I am a sole director and shareholder who is transferring ownership of my limited company and receiving £55,000 for my shareholding. I understand I will pay capital gains tax at the business asset disposal relief rate, but some websites I have looked at indicate that the company pays corporation tax on the transaction, too. Is this correct, as it seems like double taxation if so? 

Arthur replies: 

You are correct that the sale of your shares will create a capital gains tax issue for you. But if the only transaction taking place is the transfer of the shares from you to the purchaser, then this transaction does not directly involve the company, and so there should be no corporation tax consequences.