Business Tax: Selling Your Business

Selling Your Business by Lee Hadnum LLB ACA CTA

PUBLICATION DATE: APRIL 2011
PAGES: 180
STATUS: IN STOCK

Overview of Selling Your Business

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.

Even if you have a good accountant you should read this tax guide if you’re selling your business – it contains lots of interesting new tax saving ideas and highlights various dangers and traps to avoid.

It is essential reading for anyone selling a company or sole trader business.

Recent changes to capital gains tax, income tax and corporation tax have important implications for anyone selling a company or other business. This book details all the latest tax changes, explains how they will impact the sale of your business and, crucially, tells you what you can do to reduce your tax bill.

The guide also tells you absolutely everything you need to know about Entrepreneurs Relief.

What Information is Contained in Selling Your Business?

Selling Your Business is written in plain English and packed full of examples and tax planning tips.

The guide covers the following key tax issues for anyone selling a business:

• All relevant changes announced in the March 2011 Budget.
• Clear explanation of how capital gains tax is calculated when you sell your business.
• Everything you need to know about Business Asset Taper Relief: how to safeguard it and ensure your   profits are taxed at less than 10%.
• 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.
• 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.

About the Author of Selling Your Business

The Author of Selling Your Business is Lee Hadnum LLB ACA CTA. Lee is a rarity among tax advisers having both legal and chartered accountant qualifications. After qualifying a prize winner in the Institute of Chartered Accountants exams, he also went on to become a chartered tax adviser (CTA). Having worked in Ernst & Young’s tax department for several years Lee now has his own tax consultancy. He is author of a number of our tax guides and provides personalised advice through our popular Question & Answer Service.

Contents of Selling Your Business

PART 1 SELLING A COMPANY
Chapter 1 Disposal Procedures
Chapter 2 Capital Gains Calculation on Disposal
Chapter 3 The Key Reliefs
Chapter 4 Other Reliefs
Chapter 5 Share Exchanges
Chapter 6 Earn Outs and Deferred Consideration
Chapter 7 Tax Planning Prior to Sale
Chapter 8 Other Tax Planning Options
Chapter 9 Selling Assets Instead of Shares
Chapter 10 When an Asset Disposal Produces a Lower Tax Bill
Chapter 11 Hive Downs

PART 2 SELLING A SOLE TRADER BUSINESS
Introduction to Part 2
Chapter 12 Closing Year Rules
Chapter 13 Capital Allowances
Chapter 14 Losses – Closing Year Rules
Chapter 15 VAT
Chapter 16 Capital Gains Tax
Chapter 17 Allocating the Proceeds
Chapter 18 Emigration
Chapter 19 Conclusion

PART 3 PRE 6 APRIL 2008 DISPOSALS
Appendix A Payment of Tax
Appendix B Capital Allowances

Ordering Information

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