Most tax-efficient way of selling my stake in a business

[U2Fan]

I am in the process of selling my 20% share in a company to a fellow director. I am aware of the capital gains implications of 20% but does anyone have any suggestions to reduce this tax amount?.

 

[ClubMan]

Surely you are also going to get professional advice on this?

 

[U2Fan]

I most certainly am...and don't call me Shirley !!!!

 

[capall]

Were you a working director ? And if Yes,for how long

 

[U2Fan]

5 years, then diagnozed with Cancer, now do some consultancy work from home.

 

[capall]

The main relief available from CGT is retirement relief but you need to hold 25% of the COMPANY shares for 10 years

As a working director there is scope for the company to pay you redundancy or to make a payment into a pension scheme for you.

But there is no relief available on the CGT gain

 

[U2Fan]

Thanks Capall, much appreciated