I will shortly be selling assets in my Ltd company totalling £70k. My company will then be purchasing another existing business for £45k. In addition, I will be reinvesting a further £12k of the proceeds back into my existing business.
Firstly, I understand that both these amounts can have the Comany CGT "rolled over".
However, I believe that the proceeds of £70 should be shown as income on my P&L, in which case can I quite properly withdraw dividends from the remaining £13k(after allowing for 20% corp tax of £2600).
The key part of my question is whether I can access the £13k or part thereof by way of dividends.
Firstly, I understand that both these amounts can have the Comany CGT "rolled over".
However, I believe that the proceeds of £70 should be shown as income on my P&L, in which case can I quite properly withdraw dividends from the remaining £13k(after allowing for 20% corp tax of £2600).
The key part of my question is whether I can access the £13k or part thereof by way of dividends.
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