U U2Fan Registered User Messages 76 27 Aug 2007 #1 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?.
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?.
C ClubMan Registered User Messages 50,750 27 Aug 2007 #2 Surely you are also going to get professional advice on this?
U U2Fan Registered User Messages 76 27 Aug 2007 #3 I most certainly am...and don't call me Shirley !!!!
C capall Registered User Messages 339 27 Aug 2007 #4 Were you a working director ? And if Yes,for how long
U U2Fan Registered User Messages 76 28 Aug 2007 #5 5 years, then diagnozed with Cancer, now do some consultancy work from home.
C capall Registered User Messages 339 28 Aug 2007 #6 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
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