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Mo Tax Expert
Mo Tax Expert, Accountant
Category: Tax
Satisfied Customers: 543
Experience:  Accounting and Tax Expert
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Planning to sell my uk company and move abroad so i need

Customer Question

Planning to sell my uk company and move abroad so i need specialist financial advice
JA: Have you talked to a tax professional about this?
Customer: not yet
JA: Is there anything else the Accountant should know before I connect you? Rest assured that they'll be able to help you.
Customer: no
Submitted: 14 days ago.
Category: Tax
Expert:  Mo Tax Expert replied 14 days ago.

Hi and welcome to JustAnswer. I’m Mo Barrie, Qualified Accountant and Tax Expert.

Thank you for your patience.

Expert:  Mo Tax Expert replied 14 days ago.

Are you selling the business along with the company? Or just the business?

Customer: replied 14 days ago.
The company
Customer: replied 14 days ago.
Not yet please
Customer: replied 14 days ago.
hello?
Expert:  Mo Tax Expert replied 14 days ago.

Limited  company?

Customer: replied 14 days ago.
not yet please
Expert:  Mo Tax Expert replied 14 days ago.

Are you the only shareholder?

Customer: replied 14 days ago.
Limited
Customer: replied 14 days ago.
I owe 38%, my wife 38% and each of our three adult kids 8%
Customer: replied 14 days ago.
It would be myself and my wife we would be looking to move to Greece for min 6 months a year
Expert:  Mo Tax Expert replied 14 days ago.

If you are selling the Limited company. You would sell the shares of the company.

Any gains made would be subject to CGT. However, you may be able to claim Business Asset Disposal Relief (was known as Entrepreneurs' Relief) to reduce the tax liability.

Customer: replied 14 days ago.
im fully aware of this but i wanted to explore the possibility of other tax benefits if i was to become a non UK resident. As well as the sale of the company i would like to know if receiving my pention there would be taxable in the UK. The amounts involved are sizable so the advice required goes beyond simple accounting
Customer: replied 14 days ago.
pension
Expert:  Mo Tax Expert replied 14 days ago.

Sorry, How do you mean?

Please elaborate on what you are trying to say.

If you are selling the business you have to pay the taxes on the gains. No two ways about it.

Pensions and any other vehicle used would be irrelevant as you have incurred a sale.

Except if you don't want to sell the business entirely.

Thank you.

Expert:  Mo Tax Expert replied 13 days ago.

Hi,

Did you manage to review my comments?

I hope my answer was clear.