W westcoast66 Guest 16 Mar 2009 #1 I wonder if someone could give me some advice here - and be as blunt as you want! I have a company which has built up a large bank balance over the last few years. The value of the company is basically me and this bank balance. Could I sell this company at the end of the year (I can arrange a buyer) for its cash balance and pay CGT on the proceeds? Then in the new year, could I buy it again for one euro? Thanks in advance!
I wonder if someone could give me some advice here - and be as blunt as you want! I have a company which has built up a large bank balance over the last few years. The value of the company is basically me and this bank balance. Could I sell this company at the end of the year (I can arrange a buyer) for its cash balance and pay CGT on the proceeds? Then in the new year, could I buy it again for one euro? Thanks in advance!
A Arch2 Registered User Messages 136 16 Mar 2009 #2 Do you envisage selling for the full value? Is it to a connected person?
G greentree Registered User Messages 100 16 Mar 2009 #3 Just selling for the value of the bank account. Person may not be connected.