Without proper planning it's all too easy to go down this path!
How does this work?
CGT on the sale of a business is 10% for most entrepreneurs
IHT on the sale proceeds of a business is 40% for most individuals
So if you suffer an untimely death following the sale of a business, 50% of its value could be wiped out overnight in tax! Indeed a recent court case was an example of this happening, although it could have been avoided. Examples of how to do so were given during a seminar for our clients held recently in Northampton.
For further information and advice, contact Catherine Ball at catherineball@hewitsons.com
To be added to our invitation list for future seminars, please email michaelyoung@hewitsons.com or see our events calendar
The Ministry of Housing Communities & Local Government has issued a consultation on increasing the transparency of land data. The proposal is that there is an open register which holds information as to which developers, promoters or others have an interest in land and what that interest is.
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