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Our clients are two individuals. They each own 50% of a trading company. Both are full time directors of the company.
The individuals jointly own a commercial freehold property from which the limited company has traded for over 20 years rent free.
A sale of the property for £2 000 000 has just fallen through. Our clients had hoped to close down the limited company at 31 March 2008 and benefit from indexation and business asset taper relief on the sale of the property. The shares of the company have no value.
The client's intention was to pay all of the outstanding costs of the company to then pay a final dividend and finally to then 'strike off' the company.
A sale is now unlikely to take place until well after 6 April 2008.
Our questions are as follows.
- Must the limited company be kept trading (at a loss)...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
