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Happy outcome
KEY POINTS
- Budget changes to entrepreneurs’ relief created problems for a company with alphabet shares.
- An alternative test will entitle the holders of the shares to entrepreneurs’ relief if they receive at least 5% of the proceeds when the company is sold.
- The ownership and voting conditions remain as before along with the other autumn Budget amendments.
- Another restriction concerns the sale of goodwill by individuals to a company on or after 21 December 2018.
Much has been made of the Chancellor’s announcements on 29...
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