Business owners sell to beat CGT hike
Private equity group saves £2m in CGT move
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.