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2/19/2020
VerifiedHello, I am one of the experts on Just Answer and pleased to be able to help you with your question.
The 3K for stock is a sale in your trading account and in the longer term will impinge on your Profit And Loss (P&L) account. The 5K is a capital part of the selling process and may well involve you in a Capital Gains Tax (CGT) liability. As you are disposing of part of your business Entrepreneurs' Relief will apply which limits CGT to a flat rate of 10%.
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