I'm currently investigating potentially selling 1 or selling all 4 websites ("assets") that my Ltd. company owns (all are revenue generating) if the opportunity was ever to arise and I was wondering how this would work from a tax perspective.
Am I right in saying the following?
- If I sell 1 or all 4 websites that earn money, the company pays 33% CGT on the sale and then pay tax as appropriate when I withdraw funds from the company
- If I changed the company to a "holding company" with each 4 of them under the umbrella, then there is no CGT due when 1 or some of the assets are sold as the funds remain in the company which I own shares in, not personally own?
- If the entire company was sold (currently as a Ltd. Company not a holding company), then I pay 10% CGT on the sale due to Entrepreneur Relief, but receive 100% of the funds (on which I then pay tax at my marginal rate)?
If the above is correct, its more beneficial to me to sell the entire company rather than the assets individually I think?
However, if I was to sell to someone in the US, they'd be unlikely to want to buy my company, but just my assets. Therefore, I could offer them a discount on the sale if they buy the company and just transfer the assets afterwards right?
How does that work from a tax / accounting perspective? Is there any tax due if they remove everything from Audio for Apps Ltd and transfer to their own foreign company?
Thanks for any advice you can provide.