Company dividend

[muldoon]

Good evening all.

I have non-voting shares in the private company I work for and I have recently been informed that the directors have accepted an offer for the company and as a result I stand to gain a significant amount of money. Presumably this will be treated as a Capital Gain and will be taxed at 28 percent ? I believe the directors may be able to claim Entrepreneurial Relief, but I take it that I will not be eligible for this ?

Do I need to report my gain as soon as I receive it or can I wait until the end of this tax year ?

Are there any legitimate ways of decreasing the amount of CGT I will be liable for ?

Thank you

[King_Maker]

There is no need to report the transaction immediately.

If the relevant date(s) are before 6 April 2012, it will be reportable in your 2011-12 Tax Return. Any CGT will be payable by 31 January 2013.

As soon as you know the exact terms (e.g. Loan Notes, earn-outs etc), I would recommend seeking professional advice.