Thank you for your question..
Please advise if you have been trading as a sole trader or you run your operation as a LTD company.
If trading as a LTD company, will you be selling your shares in the business.
Thank you for your prompt reply.
Any gain from sale of business and premises would result in capital gains tax payable.
Based on information given, it would appear you would be entitled to claim Entrepreneurs' Relief. This being the case, your gain would be taxed at 10% as opposed to the normal rate of 10%, 20% or a combination of both depending on your taxable income inclusing the gain.
More information on eligibility for Entrepreneurs' relief can be found here
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