Entrepreneurs relief

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Client liquidated his previous company in 2010 and claimed ER on the proceeds. He now wants to do again with a different business and is under the Lifetime barrier. Is there any reason he shouldn't do it again.?The 2nd companyy is not a phoenix of the first

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By Maslins
26th Feb 2014 16:34

Not that I can think of.

Your post implies the businesses were different ("not a phoenix"), so I don't see how transactions in securities could apply...and other than that I don't think there's much to stop them.

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By roger@acklands
26th Feb 2014 16:34

As long as the qualifying conditions

Are met the relief should be due. Have you thought about the IHT position though? he is exchanging an asset potentially covered by 100% relief from IHT for cash (presumably) in which case he is increasing his chargeable IHT estate.  Might not be an issue but should at least be mentioned to him

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By bernard michael
27th Feb 2014 09:24

He's only 42 and want to buy

He's only 42 and wants to buy a big house for personal occupation so needs to liberate cash.and no problem with IHT. 

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