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Bert's Boots
Key points
- Sole shareholder and director will sell trading company shares.
- Sketch out a plan of the steps and the tax matters
to be considered. Who is the exam answer being written for? - Does the company own non-business assets?
- The conditions for capital gains tax entrepreneurs’ relief.
- Shares in an unquoted trading company are eligible for holdover relief but are all its assets used for business purposes?
- Summarise action points and deadline dates.
As I suspect for many Taxation readers my relatives seem to think that I am a ready supply of tax advice and planning ideas. Sometimes I wonder how they arrived at that conclusion until I remember that it was probably because I am always happy to supply tax advice and planning ideas. Little do they know that I am keeping timesheets for each of them…
It is usually at family gatherings that I am tapped up for information – in fact now...
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