Hi,
Is there any means of making use of the personal Capital Gains allowance to draw money from a company tax free?
I believe the allowance is close to £10K pa.
I am think that I could buy something from the ltd (shares?) that are then valued at a £10K profit and are then sold back to the ltd. The profit would be put on the tax return.
Any ideas if something like this is possible?
Is there any means of making use of the personal Capital Gains allowance to draw money from a company tax free?
I believe the allowance is close to £10K pa.
I am think that I could buy something from the ltd (shares?) that are then valued at a £10K profit and are then sold back to the ltd. The profit would be put on the tax return.
Any ideas if something like this is possible?
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