BobbyFowler
Registered User
- Messages
- 328
I'm winding down my company at the moment & will be moving to Australia in July. Things seem to going fine regarding the sale of the business. I reckon I should get 40K for the business & there'll be 40K in the Company Account by the time I leave (with no Debtors/Creditors/Loans etc) Am I correct in saying that I'll have to pay 20% Capital Gains Tax on 80K? I've got a business Idea that I'm looking to set up in Australia. I reckon it'll cost me 50K to get up & running with this. As you can imagine, I'd prefer not to have to pay out 16K & then find myself stumping up money later on down the line. Is it possible to defer the CGT element, move to Australia, set up as a company there & reinvest whatever is coming out of the company here?