Corporation Tax when you sell business assets

1. Overview

Your limited company usually pays Corporation Tax on the profit (‘chargeable gain’) from selling or disposing of an asset.

Corporation Tax on chargeable gains is also paid by:

If you’re a self-employed sole trader or business partner, you payCapital Gains Tax when you sell business assets instead.

Company assets

Assets are things your company owns, eg:

  • land and property
  • equipment and machinery
  • shares

There are different rules for intangible assets, eg intellectual property and business reputation (‘goodwill’).

 

Author: MixoBiz

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