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Eligibility of entrepreneurs’ relief in care home investment.
My client is a director of a property investment company that receives mainly rental income. The company’s retained profits are about £1m.
My client would like to retire in a few years and sell the shares in the company. Assuming he is not currently entitled to entrepreneurs’ relief he plans to sell the company’s properties and invest in a care home. He would like to run the care home through the company for 18 months and then sell his shares.
In these circumstances would he then be eligible for entrepreneurs’ relief? Also would his wife – who owns 20% of the shares and is a director but not a full-time employee – be entitled to this relief?
Query 18 922 – Carer.
Reply by Pete Miller The Miller Partnership
Several features must be in place before entrepreneurs’ relief is available. In brief ...
