CGT on rollover relief that wasnt used!

CGT on rollover relief that wasnt used!

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Hi I have a client who sold his business in December 2012, he was looking to re-invest the proceeds into another business so we opted to use the roll over relief, unfortunately the new business venture fell through and we now need to create an amendment return to reflect this.

The proceeds were £148,500  (no start up cost) and one years worth of annual exemption was claimed, i just want to be certain that i can only claim one years exemption when i do the return, i think, the answer is yes but need to be certain.

The business was sold as a going concern and was applicable for entrepreneurs relief on this occasion so i have worked out the tax to be as follows:

£148,500 less £10,500 annual exemption equates to £138,000 @ 10% equals £13,800 to pay over.

Have I missed anything off?

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