Commentary

40.5 Taxation of the proprietor’s realisation of his investment

BUSINESSES vol 4(2) start-up, sale and purchase
| Commentary

40.5 Taxation of the proprietor’s realisation of his investment

| Commentary

40.5 Taxation of the proprietor’s realisation of his investment

When the proprietor, or one of the proprietors, of a business decides to dispose of his business or his part share in it, the basic tax regime is the same whether that business is run as a sole trade or a partnership, or through the medium of a limited liability company. In the case of a lifetime sale, there may be capital gains tax implications. In the case of a lifetime gift or a sale at an undervalue, in addition to capital gains tax there may be inheritance tax consequences. In the case of a

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