Sandra Kruczek
Joined: 10/16/2024
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Capital Gain Tax-selling business -eligibility for BADR
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.