Paying CGT On The Sale Of My Business

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BobbyFowler

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I had a tidy little business that I started myself, 4 years ago. I was set up as a Ltd Company. It cost nothing to set up from scratch. I just sold it for 30K in the last month & have moved to Australia. I'm just getting around to the paying the CGT. I understand that I have to provide a CGT Payslip A before 30 September of this year. I have a document from Revenue saying that the first €1270 of an individuals net gains are not chargeable. I don't have anything else to offset against the Sale Price. Am I right in saying that I just provide a cheque for €5750 to Revenue or is there anything that I'm not aware of that I can claim?
 
you could claim for the cost of selling it, agent fees solicitor fees if any, also if it had any directors loans these could be repaid
 
Have you not got professional advice on the CGT and other implications of the sale? Didn't you mention elsewhere on AAM that you had to buy software and other stuff to fulfill the sale conditions? Some of this may be allowable against CGT depending on the terms of the sale.
 
The Sale was pretty straightforward in the end. There were no fees & we just reduced the price to take out the Software factor.
It's a bit of a pain as I'm in the process of setting up a business here in Australia & could do with that €5750!
Thems the breaks!
 
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