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Liable for CGT
andyman75
Posts: 3 Newbie
in Cutting tax
Hi All,
As pat of the sale of a company I own shares in (and work for and will continue to work for) I am being asked to re-invest (essentially buy) shares in the new company as a condition of the sale (allbeit at a very good rate and something I'm happy to do). This is a private company and not listed.
I know I'm liable for CGT (after my allowances) but am I liable for CGT on the entire gains from the sale of the shares in the old company or the gains minus the re-investment amount?
I've never been in this situation before and never had to fill in a tax return in my life!
Thanks,
Andy
As pat of the sale of a company I own shares in (and work for and will continue to work for) I am being asked to re-invest (essentially buy) shares in the new company as a condition of the sale (allbeit at a very good rate and something I'm happy to do). This is a private company and not listed.
I know I'm liable for CGT (after my allowances) but am I liable for CGT on the entire gains from the sale of the shares in the old company or the gains minus the re-investment amount?
I've never been in this situation before and never had to fill in a tax return in my life!
Thanks,
Andy
0
Comments
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do the shares represent a controlling interest in the company or are they merely a minority interest?0
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They are a minority interest.0
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