Entrepeneur relief

Entrepeneur relief

Didn't find your answer?

Client is going through liquidation as reserves over 25K and the Liquidator has made 2 capital distribution on the 31/03/2014 and 30/04/2014. Can the client claim the entrepeneur relief for the 2 tax years. Aubyn

Replies (2)

Please login or register to join the discussion.

Head of woman
By Rebecca Cave
24th Mar 2016 15:57

Distributions in 2013/14 and 2014/15

The SA tax returns for those years should have been submitted already. Why weren't claims for entrepreneurs' releif ( ER) included on those returns?

The deadline for submitting a claim for ER is 1st anniversary of 31 Jan following year in which the gain arose. For the distribution on 31 March 2014, in 2013/14 the deadline was 31 Jan 2016. For the distirbution on 30 April 2014 in 2014/15 the deadline is 31 Jan 2017.  So you are in time for the later tax year, not the earlier one.

Thanks (0)
By johngroganjga
24th Mar 2016 16:03

Yes

The above presupposes that the answer to the OP's question is yes, without actually saying that it is, only implying it!  For the avoidance of doubt I agree that it is yes.

Thanks (0)