Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Help Keep Boards Alive. Support us by going ad free today. See here: https://subscriptions.boards.ie/.
If we do not hit our goal we will be forced to close the site.

Current status: https://keepboardsalive.com/

Annual subs are best for most impact. If you are still undecided on going Ad Free - you can also donate using the Paypal Donate option. All contribution helps. Thank you.
https://www.boards.ie/group/1878-subscribers-forum

Private Group for paid up members of Boards.ie. Join the club.

Selling customers

  • 11-06-2016 11:23AM
    #1
    Closed Accounts Posts: 783 ✭✭✭


    I run a business and have customers that pay me either monthly or annually for a service. I am looking to sell the customers to another company and then shut down the business. I am currently registered as a sole trader. What tax would I face on the income?


Comments

  • Registered Users, Registered Users 2 Posts: 401 ✭✭Lockedout2


    The sale of a business or a client list is subject to CGT. You may qualify for retirement relief of you meet the criteria.


  • Registered Users, Registered Users 2 Posts: 14,595 ✭✭✭✭CIARAN_BOYLE


    I run a business and have customers that pay me either monthly or annually for a service. I am looking to sell the customers to another company and then shut down the business. I am currently registered as a sole trader. What tax would I face on the income?

    CGT if possible look at whether you qualify for retirement relief.


  • Closed Accounts Posts: 783 ✭✭✭nsa0bupkd3948x


    If I sold the customers to a third party for a once off fee and then I get a 100% commission of income up to €X amount. Would I pay CGT on the original amount and income tax on the commission? Even if the commission is up a guaranteed amount?


Advertisement