CGT instalments and ER
Taxpayer has a £3m gain on sale of shares, qualifying for Entrepreneurs relief.
£2m paid immediately , £1m over two instalments at + 12 months and + 24 months.
Consideration is ascertainable.
Q - is there any Entrepreneurs relief restriction if an election under TCGA S280 to pay by instalments is made.
My colleague thought there was, but my research today can't find anything confirming this.
My colleague may be thinking of a Marren v Ingles unascertainable situation though, where loss of ER on the deferred earn out right is a known issue.
My conclusion is that for a straightforward payment by instalment arrangement, ER isn't compromised by TCGA S280 claim to pay by instalments.
Any quick thoughts from the floor?
- Wrong career 130 6
- bookkeeping for interest & dividends 170 3
- Auto Enrolment & Moneysoft 544 4
- Small employers paying people when sick thanks alot! 2,868 28
- Adjusting over-provision of Corporation Tax in previous year 192 5
- Newsletter 242 5
- RTI Filing 1,761 22
- Would this save hours of your time? 119 1
- Fee's for P11D's 311 5
- Agent with HMRC 242 10
- Quarterly PAYE 245 7
- Producing graphical KPI's etc 61 1
- reporting salary? 183 3
- Payroll software : RTI submissions 330 16
- CGT on Inherited Property 274 2
- Employment Allowance related companies 109 3
- Value pricing 593 19
- One man Company and closing payroll scheme as none paid 392 1
- Childcare Vouchers 178 3
- Audit Report Query 192 5
- Residential Property Purchase Above £750K 772
- Using Sage with Sofa Categories 527
- Does anyone have an unwanted ICAEW wooden plaque? 394
- Goods shipped inter EU and VAT Reporting 279
- Non-Resident Director - UK Tax Position? 220
- Sage 200 and Access Dimensions reviews 218
- Director Loan account operation 210
- transferring simply accounting 2010 from xp to windows 7 206
- Free Tax Legislation? 193
- vat return 175