Mr A sells his unquoted trading shares (over 5%) to his family trust. He remains at the company and it continues as normal. This transaction will clearly trigger a CGT charge however, as the shares are still an asset of a continuing business for which he is involved, will he get ER on the sale?
Many thanks
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Yes
In essence share sales of any size or proportion (providing the other qualifying conditions are met) will qualify for ER. There is no requirement for a complete disposal.
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Yes, sure. The trustees will acquire the market value of the shares as their base cost. The shares dont belong to the beneficiary. What type of trust is it?