Director/shareholder takes company business to new owner
Client company in service industry with established clients and good name stops trading and the business, including staff, transferred to another company (existing, not connected).
No value paid but, instead the sole shareholder and director receives remuneration package and shares from new owner.
Clearly value has shifted (S17 TCGA 1992) and it looks like we'll have to show him as having withdrawn the intangibles in anticipation of the formal liquidation.
Anyone come across a similar situation as would appreciate any issues/thoughts to consider over valuation and risks.
Thanks in advance
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