Dissolving my Ltd company - Capital Gains Tax (CGT)

jacs645
jacs645 Forumite Posts: 2
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I have a company which is formally open but has not traded for a few years. There is a small-ish sum of money in the account (less than £50k) and I'm trying to understand the CGT implications if I dissolve the company.
I am currently a non tax-payer as my only income is Carers Allowance (CA) (£75p/w) but thinking of initiating my private pension soon.
Is income relevant or would I pay CGT on the entire amount? 
If I initiate a small pension (a  lump sum plus £6k p/a) would this impact CGT payable?

Comments

  • billy2shots
    billy2shots Forumite Posts: 1,104
    Fifth Anniversary 1,000 Posts Name Dropper
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    edited 25 July at 1:48PM
    As its not traded for years, you might be to late to do an MVL then claim BADR , business asset disposal  relief but worth checking out. If you qualify then that would be 10% cgt on the lump sum. 

    As your income is low, why not continue to take the money out in dividends until it runs out?
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