Hi all- so I have been approached to be bought out. Waiting to meet a tax consultant but curious on the following:
- operating as a sole trade approx 6 years
-selling client list
- pmt for same will be over two years, last payment will be reduced if the full turnover amount do not change over and likewise- if more go, the increase will be received on last pmt.
can I still claim entrepreneur relief where full pmt is not received up front? Do I pay cgt on all at the start? I’m confident that the figure I have given will move over - if anything prob more.
Anything else I should be aware of??
Many thanks
- operating as a sole trade approx 6 years
-selling client list
- pmt for same will be over two years, last payment will be reduced if the full turnover amount do not change over and likewise- if more go, the increase will be received on last pmt.
can I still claim entrepreneur relief where full pmt is not received up front? Do I pay cgt on all at the start? I’m confident that the figure I have given will move over - if anything prob more.
Anything else I should be aware of??
Many thanks