HI all
My accountant has just told me how stupid i was registering my company
Anyway I have a sole prop that was formed 2 years ago and makes about 2 million turnover per year
The assets of the company are all on our personal names and most are still financed. We have small tools to the value of about R 10 000.00
There are 2 owners (myself and hiusband) of the Pty

My question
1. Can the sole prop just close down and the Pty take over or does the Sole Prop have to sell to the Pty?
2. Do i have to get an evaluator in to determine the business worth?
3. Would my husband (Sole prop) have to pay Capital Gains tax?

Any help would be appreciated