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Post Info TOPIC: Sale of Business
SteveB


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Sale of Business
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I am now starting to produce my accounts for 2014/15. In July 2014 I sold a business. My questions are:-

1. During the sale process I incurred some legal costs, do I show them in the Profit & Loss Account ? or do I complete a seperate statement for the sale of the business ?

2. What are the tax implications for the sale of the business? The sale of the business was for £12,000. It was a business I had managed for 10 years. I am a basic rate tax payer.

 

Thank you in anticipation of your help

 

Steve

 



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