One of the possibly unintended consequences of the chancellor's recent Budget 50% tax rate hike is the encouragement of private and family businesses to keep their profits within the business.
Although withdrawing money from a company attracts corporation tax at 25%, if that then goes into a personal account it is taxed at 40% to 50% for higher rate tax payers (the 50% rate effective for those earning over £150k from April 2010).
Keeping the funds in the business is a viable choice for those who don't need the money right now personally. The business can invest the money, upon which any profits are only going to be taxed at 25%.
If and when the business gets sold, the owners will only have to pay an 18% tax on the capital gain, with only 10% payable on the first million pounds.
This is a chance to acquire a longstanding and reputable manufacturer of modern concrete garages, with roots dating back to the 1940s.
This well-established haulage company in West Yorkshire offers a strategic location with easy access to major motorway links and a strong, loyal client base developed over 20 years.
This is a rare opportunity to acquire this thriving motor vehicle repair, MOT, and service centre. This professionally run business currently provides the majority of its services to private customers with a small amount of commercial work, which pro...
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