After a number of years of hard but also successful and profitable work running his business on his own, David Wiltshire is now considering a change of direction. This could take the form of disposing of the business and retiring, and the tax implications of this are considered in this chapter. There are also the possibilities of going into partnership, perhaps with his son Richard, and of incorporation, and these are looked at in Chapters 7 and 8.
KeywordsCapital Gain Trading Stock Taxable Person Business Asset Proportionate Shortfall
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