Capital gains tax
If you are considering selling your business or other business assets – including shares, machinery and even goodwill – capital gains tax (CGT) is likely to be an important consideration, particularly if you are planning to put the proceeds towards funding your retirement.
Changes to the capital gains tax regime effective from 6 April 2008 – including the abolition of taper relief and the introduction of a new "entrepreneur's relief – also underline the need for professional assistance in this complex area.
Our partners and specialist tax team can advise you on CGT implications of a transaction before it takes place and advise you on the most appropriate way forward to minimise your liabilities.
We can also advise you on the timing of your deal, which is particularly important with CGT, to take full advantage of the various exemptions and reliefs available.
If you would like to know more about how we can help you, please contact us.
Nigel Prance, Buxton Pickles