The Chartered Institute of Taxation has published a useful guide to some of the practical issues relating to a claim for Entrepreneurs' Relief. The guide is based on a series of Questions and Answers derived from ongoing discussions with HM Revenue & Customs.
Issues covered include:
- Can the disposal precede cessation of trade and still qualify, despite what the legislation says?
- What constitutes the qualifying disposal of a part of a business?
- The exercise of share options that might dilute a shareholding below the necessary 5%
- What is the time limit between a qualifying material disposal and an associated disposal - is there one?
- Applying for a ruling on whether or not a company is 'trading' for the purposes of Entrepreneurs' Relief
The guide can be found at: Entrepreneurs' Relief (ER) - Practical Points
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