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Readers' forum: Parting ways

09 October 2018
Issue: 4667 / Categories: Forum & Feedback

Entrepreneurs’ tax relief on selling limited company.

A UK-based construction limited company with two equal shareholders both of whom are directors has been operating since the late 1980s. The directors want to retire and take their money out of the business. They would like to sell the business as a whole or in parts but would be satisfied if the company was wound up as long as they can withdraw their money efficiently.

The assets of the company comprise two industrial units owned outright which they built themselves. These office buildings form part of a larger development but all have their own title. Other parts of the development built by the company have been sold off over the years. The remaining properties are leased out because the company cannot sell them.

The company also owns about ten acres of land which has been earmarked for housing. A large national homebuilder has signed...

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