Company A has one shareholder (100%) is selling complete business. New owner is purchasing and taking over for sum of £30k.
Company has assets worth £5k and liability DLA of £10k
New owner pays £30k into old owner’s private bank.
Old owner pays CGT. No entries are made in the accounts of the company to reflect the £30k.
Companies House is updated with new shareholder.
New owner takes benefit of DLA.
Company carries on trading with new owner.
Is this correct?