Client does not want to pay CGT on property disposal
We have a client who is looking to offload a property in 2012/2013. He purchased it for £55,000 and reckons he'll get about £190,000.
Fuming about 28% CGT on the higher rate.
He was told by someone down the pub that putting it in a company would solve the problem, but that would surely be an arms length transaction and would still raise a CGT liability.
He says he should get Entreprenuers relief. I've told him no. He won't have it and wants me to see how he can get out of it.
Was talking about buying a shed in Venezuela and changing his domicile and residence to not pay this beeping government.