Closing business - Which tax and how much?
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jose
Apprentice
Joined: 07 Apr 2005
Posts: 6
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 Posted: 05/26/09 - 06:00 Post subject: |
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| Hello, folks. I have run small business for years. Since I have some finance issues, I am forced to close it down. I want to do that properly, so I would like to know which tax I should pay and how much. If you know these details, I will ask you to tell me. It will mean a lot to me. Thanks. |
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maddy
Apprentice
Joined: 29 Jul 2006
Posts: 13
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| Posted: 06/24/09 - 21:27 Post subject: |
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| Hello, there. I am sorry to hear that. But, that is life. I suggest you to make your closedown plan. It is similar like business plan when you plan starting a business. You must inform your employees and issue them P45 form. You also have to inform many people and organizations that need to know that. You will have to pay Capital Gains Tax. This goes if the assets are sold. In any case, I think it would be best to contact HM Revenue & Customs. They will help you with closing down. |
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