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HMRC Clearance for ER

I would like to seek clearance from HMRC that shares being sold as part of a company merger/acquisition will qualify for Entrepreneur's Relief. I am pretty certain it will do but given the high value of the transactions I would like HMRC's opinion. How would I go about doing that? 

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Ask HMRC

I don't know definitively, but you can't go far wrong with a) calling HMRC to ask or b) writing to the local tax office.

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A shareholder can normally ask

HMRC if a company will qualify, there is no clearance process as such however, the qualifying conditions are not that tricky - you can email me if you want.

On a transaction like this you will also need to obtain tax clearance for Transaction in Securities or if you need other conditions to be met and if you fail clearance or fail to obtain clearance you may find HMRC counteracting CGT treatment.

Virtual tax support for accountants: www.rossmartin.co.uk

 

 

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