Selling your business can have a variety of tax consequences. Good planning at an early stage will ensure that you do not pay more tax than necessary. Indeed it is not too early to think about the eventual sale of the business when you are setting it up.
The maximum rate of capital gains tax is now 18%. However, since 6 April 2008, entrepreneurs' relief has been available to reduce the effective rate of capital gains tax to 10% on some disposals of business assets.
You may have to consider several different taxes, depending on what form your business takes.Last Updated
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Selling a Business
