Sole trader started 2004, incorporated in 2008, no goodwill on the transfer of business.
Now selling business for £55,000 plus stock and fixtures.
Is the gain (£55k) on sale of the goodwill element taxable under CT? I believe tangible assets arising after April 2002 are not subject?
Have looked at sale of shares which would raise a personal gain, subject to ER. Obviously purchaser would have to pay Stamp Duty on the transfer.
Need to check re gains on corporate intagibles before advising which is the cheapest option - sell shares or have the company sell it's goodwill.
Many thanks