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Posted Mon, 27 Feb 2023 11:47:23 GMT by User123456
I am looking at closing my limited company towards the end of March 2023. I believe at this point there will be about £15,000 in profits to distribute. I am looking at distributing the profits as a capital gain income. My question is in relation to the date of disposal. The company will cease trading on Friday 31st March 2023 but my accountant is unlikely to have the accounts prepared before 6th April 2023. Would the date of disposal for CGT purposes be the date the accounts are prepared up to which will be the cessation for the company, so 31st March or would the date of disposal be the date the distribution from the company bank account is made, which I assume will be mid-April. Thanks!
Posted Mon, 06 Mar 2023 14:59:56 GMT by HMRC Admin 17

The cessation date doesn't really have any significance on the date of disposal, as in effect the Company is not technically dormant.

If the date of disposal is after the date of cessation it would take you into another tax year & therefore a CT return would need to be filed.

However you could file a short return or even a 1 day return.

If you refer to manual CG14260 this will tell you how you can treat the disposal date.

Tha\nk you.

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