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Hold on to 10%

12 July 2011 / Richard Holme , Stephanie Parker
Issue: 4312 / Categories: Comment & Analysis , Capital Gains

Practical issues of entrepreneurs’ relief


  • Transferring shares to spouse.
  • Application of the 5% de minimis requirement.
  • Entrepreneurs’ relief and trusts.
  • Advantages of a formal liquidation.
  • Timing of entrepreneurs’ relief claim.

Entrepreneurs’ relief has been with us for just over three years so we now have considerable experience in advising clients on ensuring they are entitled to this valuable relief – and also preventing any pitfalls from occurring.

The stakes are higher than ever as over a lifetime an individual can make £10 million of gains qualifying for the relief. So if something goes wrong and capital gains tax at 28% is due rather than 10% the taxpayer may be faced with an additional £1.8 million tax liability and he may look to the hapless adviser to settle this if timely advice...

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