Business owners sell to beat CGT hike

Business owners have been racing to sell their companies in order to beat the
hike in CGT.

Private equity group NBGI has sold Hamworthy Heating, a maker of boilers for
commercial property, has been sold for £35m to Atlantic, a French conglomerate.

The move will save around £2m in tax,
Sunday Times reported.

Sir Ken Morrison has also moved to restructure his affairs, rearranging his
£1bn stake in the company into trust arrangements.

QinetiQ chairman Sir John Chisholm has also transferred more than £17m of
shares into a family trust, the paper said.

Further Reading:

the Sunday Times story: Tax rule changes prompt sales

backlog holds up company sales

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