How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask taxadvisor.uk Your Own Question
taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
54961312
Type Your Tax Question Here...
taxadvisor.uk is online now

Closing a limited company with assets.any tax company

Resolved Question:

closing a limited company with assets.any tax for the company or shareholders to pay
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.
Thank you for your reply...What is happening to the assets..are they being taken over by shareholders? Many thanks
taxadvisor.uk and other Tax Specialists are ready to help you
Customer: replied 1 year ago.
yes I assume so or they would be lost
Expert:  taxadvisor.uk replied 1 year ago.
If the company is disposing of fixed assets to the shareholders, this would give rise to chargeable profit is the proceeds are higher than the tax value of these assets. here is link "how to pay least tax closing a limited company"http://www.contractoruk.com/limited_companies/how_pay_least_tax_closing_limited_company.html I thank you for accepting my answer.