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New queries, issue 4501

19 May 2015
Issue: 4501 / Categories: Forum & Feedback

Trading companies? Kelp and advice; Lost deposit; Father’s farm

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Trading companies?

Explanation required of the changes to the entrepreneurs’ relief rules

My client owns 50% of a company (TopCo) that holds 50% of a joint venture (JV) development company. There are no trading activities carried on by TopCo.

Before 18 March 2015 and assuming that the 75% condition is met TopCo was deemed to be carrying on trading activities (see TCGA 1992 s 165A(7)). Since 18 March s 165A(7) has been removed from the legislation so holding the...

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