Hi, been reading for a long time. Nice forum.
I received an offer for my LTD.
Some history: LTD is ~10 years old, always been in good standing and constantly trading. I own 51% of shares, spouse 49%.
The offer comes form someone who also has an LTD but young (3 years I think).They offer services by participating in public tenders.
It seems there are some requirements by some clients (government/local etc.) where the tender participant must be older LTD.
What I have been offered is to sell my shares at the value of my LTD being the warchest + 5% markup. I.e. if I have X in my LTD account I will get X*5%.
IR35 ahead and I might need to close the LTD anyway. The question is if I sell the LTD (shares) and this income comes to me (wife) personally how is it taxed?
Is it taxed as CG (with CGT allowance)?
Or is it taxed as regular income = personal tax in appropriate bands.
Other?
I received an offer for my LTD.
Some history: LTD is ~10 years old, always been in good standing and constantly trading. I own 51% of shares, spouse 49%.
The offer comes form someone who also has an LTD but young (3 years I think).They offer services by participating in public tenders.
It seems there are some requirements by some clients (government/local etc.) where the tender participant must be older LTD.
What I have been offered is to sell my shares at the value of my LTD being the warchest + 5% markup. I.e. if I have X in my LTD account I will get X*5%.
IR35 ahead and I might need to close the LTD anyway. The question is if I sell the LTD (shares) and this income comes to me (wife) personally how is it taxed?
Is it taxed as CG (with CGT allowance)?
Or is it taxed as regular income = personal tax in appropriate bands.
Other?
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