You may be aware that the Entrepreneurs Relief legislation has gone through a few changes in the last 9 months.
If Entrepreneurs Relief applies to a share or business disposal, the gain is taxed at the lower 10% rate.
If you are looking at making a share or business disposal in the next year or two and you think Entrepreneurs Relief could apply to the gain, then please contact us so that we can check all of the conditions are met.
The conditions need to be met for a period of 2 years prior to sale, so if anything needs to be changed, it’s better to do this as soon as possible.
We have seen HMRC looking into Entrepreneurs Relief claims so it’s a hot topic with them at the moment!
If you are affected by any of these points and/or would like to discuss this further, please get in touch with your usual contact at Inspire. Alternatively, one of our Tax Advisers, Helen Fraser or Ellen Benjamin, would be happy to help.