
Brokers warned over earn-out Capital Gains Tax trap
“This hike in the capital gains tax payable on disposal of business assets is triggering a mass exodus as brokers aim to sell up before the 5 April 2008 deadline to minimise their capital gains tax liabilities, but many will be caught out by the structure of the deal,” explains Chris Riley a tax manager with accountancy firm, CLB Littlejohn Frazer.
“Broking firms are typically sold using an earn-out agreement, and payments under such arrangements will probably be made past the new CGT rate
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Regulation
Most read
- Disappointed FCA warns brokers on consumer harms
- Policy Expert signs six-year £2bn capacity deal with R&Q Accredited Europe
- GRP-owned DCJ buys SM Commercial
- Brickell seeks to cancel £482m R&Q takeover deal
- Cyber pricing hardens over 30%, says Aon
- Broker FSCS levy plummets to £5m for 2022/23 from expected £68m
- HDI restructures UK & Ireland operations