A company invest on wine as an investment
The company sold some of the bottle of wine for about £14000
I trust wine disposal are chattle and exempt from CGT for individuals
Is it the case for the corporation tax treatment?
The cost and disposal of each bottle of wine is less than £6000. The investment on wine form the company's balance sheet
We have added back the proceeds from the investment to the trading profit, but I am not sure whether company needs to pay corporation tax on disposal on this investment
Greately appreciated any thoughts