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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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.
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