When the proprietor, or one of the proprietors, of a business decides to dispose of their business or part of their share in it, the basic tax regime is the same whether that business is run as a sole trade or a partnership, or through the medium of a limited liability company. In the case of a lifetime sale, there may be capital gains tax implications. In the case of a lifetime gift or a sale at an undervalue, in addition to capital gains tax, there may be inheritance tax consequences. In the case of a disposition