I'm a contractor, but also own a business worth approx 10k which has not started trading yet. I would like to sell the business to my company. I'm assuming this will reduce my corporation tax and will also be tax free as under the annual cgt allowance. Note: assets including website are worth 10k. I don't know whether good will comes onto it.
I have an another business I would like to set up to support contracting and win more work. Bearing in mind I can do web design and could spend a year on the website, could I then sell this business to my company next year for another tax free 10k?
I will be doing all of this whether tax free or not, but its good to plan, so any feedback would be appreciated, thanks.
I have an another business I would like to set up to support contracting and win more work. Bearing in mind I can do web design and could spend a year on the website, could I then sell this business to my company next year for another tax free 10k?
I will be doing all of this whether tax free or not, but its good to plan, so any feedback would be appreciated, thanks.
