Entrepreneurs' relief

Entrepreneurs' relief

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Limited company
Shareholder 1 - director until 31/5/07 22.5% of shares
Shareholder 2 - director until 31/5/07 22.5% of shares
Shareholder 3 - director until 31/5/07 22.5% of shares
Shareholder 4 - director until 20/6/04 22.5% of shares - ceased as employee in 2004 also

Shareholder 5 - director wef 1/6/07 5% of shares
Shareholder 6 - employee until 31/5/07 5% of shares

Last trade sale 20/4/07 for work done up to 5/4/07
Last revenue invoice 30/6/07 - this was rechargeing the cost of a mobile phone to a contractor.
Last accounts drawn up to 31st October 2007 and application being made to strike off under ESC C16.
The last CT600 made up to 30th June 2007 because of the last invoice but could it be argued that trading ceased in April 2007?
If the final capital distribution is made now will shareholders 1,2 & 3 qualify.
4 won't and it doesn't matter about 5 & 6 because below the CGT threshhold.

knuckles

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