Calculate and explain the potential capital gains tax liability on the proposed disposal of Copy It. Use 2020/21 rates to illustrate your answer.
It is September 2020. Your firm has recently been approached to act in taxation matters for Mrs Porter, a higher rate taxpayer. For many years Mrs Porter has run a stationery shop called ‘Copy It’. She set up the business from scratch and has always operated the business as a sole trader. However, she is […]