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New entrepreneurs’ relief rules and associated disposals
Entrepreneurs’ relief was introduced by FA 2008 and the rules surrounding the way that it operates have changed little since.
However changes announced in November 2014 and March 2015 impose restrictions on when the relief can be claimed.
(i) It was announced in the November 2014 autumn statement that entrepreneurs’ relief would no longer be available on the disposal of goodwill on the transfer of a business to a close company to which the individual transferring the goodwill is related. This applies to disposals made on or after 3 December 2014.
(ii) A restriction was announced in the March 2015 Budget which limits when entrepreneurs’ relief can be claimed on the disposal of shares and securities in companies that hold investments in joint venture companies or partnerships. The changes mean that the relief can no longer be claimed on a disposal of shares...
