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Expect the unexpected

03 November 2015 / Kevin Slevin
Issue: 4525 / Categories: Comment & Analysis , Business
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Practical points on entrepreneurs’ relief.
KEY POINTS:
 
  • „„Furnished holidays lettings – disposing of part of a business.
  • „„Planning consent and hope value.
  • „„Disposal of trust assets owned by the trustees.
  • „„Structuring the sale of assets owned jointly by spouses.
  • „„Selling the shares of a departing director.

Nothing in tax is simple and capital gains tax entrepreneurs’ relief is a perfect example of that. In this article I will outline some important areas of that relief that may not always seem apparent.

 

Part of a business

It is well known that for a sole trader to benefit from entrepreneurs’ relief on his business assets he must show that he has disposed of all or part of his business. To decide what is meant...

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