Hey fellows
Awesome forum to begin with 😉
One question i couldn't find an answer anywhere on the internet --- Can you buy a UK company with USDT/bitcoin? All guideline only say send to personal bank account. What if I send it to owner and he converts it? Will he have capital gains tax or any other UK tax?
I've got an opportunity to buy a UK company that is several years old and is cashflow positive coo-:!y The owner has health problems and he can't take care of the company he's looking to retire early. I can get the company for a steal of 800k-1m gbp.
The issue is I'm Chinese and transferring over certain amount is almost impossible international. I however have cryptocurrency over 1M and I can use it to buy it today.
Is it possible to do it? I've talked with the owner who is from UK and he's only interested in selling it if he's able to pay his taxes legally no under the table deals. He explained to me further there is some government scheme for entrepreneurs where you only pay 10% on what you sell the company for. He wants to fit within it and pay only 10%.
How is it possible to satisfy both parties while satisfying the UK tax man too?
Awesome forum to begin with 😉
One question i couldn't find an answer anywhere on the internet --- Can you buy a UK company with USDT/bitcoin? All guideline only say send to personal bank account. What if I send it to owner and he converts it? Will he have capital gains tax or any other UK tax?
I've got an opportunity to buy a UK company that is several years old and is cashflow positive coo-:!y The owner has health problems and he can't take care of the company he's looking to retire early. I can get the company for a steal of 800k-1m gbp.
The issue is I'm Chinese and transferring over certain amount is almost impossible international. I however have cryptocurrency over 1M and I can use it to buy it today.
Is it possible to do it? I've talked with the owner who is from UK and he's only interested in selling it if he's able to pay his taxes legally no under the table deals. He explained to me further there is some government scheme for entrepreneurs where you only pay 10% on what you sell the company for. He wants to fit within it and pay only 10%.
How is it possible to satisfy both parties while satisfying the UK tax man too?
