UK CGT & a company

[Scoby]

Hi, As I understand if a UK company make a gain on an asset disposal it must also pay tax on this chargeable gain. If a person in the UK makes a Capital Gain they have a personal exemption of circa £10,000 – does anyone know if the same applies to a company??

 

[Joe_90]

If you are Irish then be careful that the company does not fall into taxation in Ireland. Don't know the answer to your UK tax question.

 

[paddytt]

AFAIK the CGT allowance is for individuals, so may only apply to a sole trader (if at all)

There are other reliefs available, have a look here:

http://www.hmrc.gov.uk/cgt/businesses/reliefs.htm

regards

TT