Just wondering how (if at all) the rummoured CGT "U-Turn" in the news at the moment might impact a contractor/Limited Co setup?
As I understand it, the proposal would be to allow the first £100,000 to be tax free upon the sale of a business when retiring. It would be a one off to avoid abuse.
If one were to say retire early (moving overseas permanently), could this be used as a vehicle to remove capital from a limited company more tax efficiently?
Thoughts?
Eamon
As I understand it, the proposal would be to allow the first £100,000 to be tax free upon the sale of a business when retiring. It would be a one off to avoid abuse.
If one were to say retire early (moving overseas permanently), could this be used as a vehicle to remove capital from a limited company more tax efficiently?
Thoughts?
Eamon
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