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Posted Wed, 16 Oct 2024 11:01:23 GMT by Sandra Kruczek
I am about to sell my business (ltd company, I am only owner) and the balance sheet shows my business is worth about £1 000. However, by selling the company I will sell also know-how (I have it for a new product), and an investor is willing to pay me £60 000 for a company and the know-how of the new product. Moreover, I do not plan to reinvest those money, by openning a new business just I want use it personally. My question is am I eligible for Business Asset Disposal Relief or shall I do just capital gain tax withouth any relief ? I appreciate an advise.
Posted Thu, 24 Oct 2024 14:45:41 GMT by HMRC Admin 20 Response
Hi,
Please refer to Business Asset Disposal Relief
Thank you.

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