Selling Your Business
How to Pay the Minimum Tax and Boost Your Profits
Selling a business requires careful tax planning. Get it right and you will reduce or even eliminate your capital gains tax and income tax bills. Get it wrong and you could end up paying a large chunk of your profits to the taxman.
This unique and recently updated selling a business guide tells you everything you need to know about paying less tax and maximizing your profits when you sell your business.
The recent changes to the capital gains tax regime, which apply from April 6th 2008, have important implications for the amount of tax you will pay on the sale of your company or business. This book explains exactly what these changes are, how they will impact on your business disposal AND crucially what you can do to further reduce your tax liability.
The guide also contains full details of the new Entrepreneurs Relief which allows £1 Million of gains to be taxed at just 10%.
What Information is Contained in the Guide?
The guide covers the following key tax issues for anyone selling a business:
- How the changes announced in the March 2008 Budget affect your capital gains tax.
- Clear explanation of how capital gains tax is calculated when you sell your business.
- Everything you need to know about the new Entrepreneurs Relief: how to maximise it and ensure your profits are taxed at just 10%.
- Which business or company disposals will be better and worse off under the new proposals.
- How to make use of Gift Relief, EIS Relief and Business Property Relief (BPR).
- The tax benefits of share exchanges over cash sales.
- Things you should consider before selling: extracting cash and assets, termination payments etc.
- How to make use of 'earn outs', 'hive ups', conditional contracts, and options.
- Detailed look at the benefits and drawbacks of selling the company's assets instead of your shares, especially in light of the new capital gains tax proposals.
- How to allocate the proceeds from the sale to reduce capital gains tax and maximise your capital allowances.
- Benefits and drawbacks of transferring assets to your spouse.
- How to make the most of trading losses and capital losses on assets.
- How to make sure the transaction is outside the scope of VAT.
- The pros and cons of emigrating to avoid tax.
- Pros and cons of incorporating a sole trader business before sale.
- Tax saving action plan for anyone selling a business.
Click here to read the full contents listing and first chapter of the book
About the Author
The author is Lee Hadnum LLB ACA CTA. Lee is a rarity among tax advisers having both legal and chartered accountancy qualifications. After qualifying as a prize winner in the Institute of Chartered Accountants entrance exams, he went on to become a Chartered Tax Adviser (CTA) and worked for Ernst & Young for several years. Lee is the author of several Taxcafe tax guides and a regular contributor to our popular online tax Question & Answer service.
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Currently FREE with any purchase from Taxcafe, this comprehensive annual tax planning guide contains 90 pages of income tax, capital gains tax, inheritance tax and business tax saving tips. It is essential reading for anyone who wants to cut their tax bill. Crammed full of tax planning tips, the How to Save Tax guide is written in plain English and contains easy to follow tax planning advice and examples.
Please click here for more information on this excellent bonus guide.
What Will I Receive?
- Selling Your Business - Professionally printed 163 page tax saving book with full colour cover.
- A FREE optional PDF copy of your book sent immediately to your email address. This means you can start making huge tax savings just seconds after the transaction is complete!
- A FREE copy of our comprehensive guide How to Save Tax 2008/09 - packed with useful tax tips and information for the current year - delivered immediately to your email inbox. Click here for more details on this title.
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