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Two year limit shareholding

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New client has recently sold their business. I am 99.9% sure I am correct but just wanted to check. Husband and Wife are the shareholders 50/50, however the wife was only transferred her shares from Husband a year ago. Husband has held shares for 10 years. She meets all other criteria for BADR, but just wanted to check there is no way (as they are spouses) she can utilise his ownership period in order to meet the two years, I very much doubt it but just wanted to check. 

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By Tax Dragon
21st Jan 2022 10:01



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Replying to Tax Dragon:
By Paul Crowley
21st Jan 2022 10:26

99.9 +1 makes 100.9%

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Replying to Paul Crowley:
By SteveHa
21st Jan 2022 11:27

-.9% (not because I disagree, but y'know, more than 100% just gives me the creeps).

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By Hugo Fair
21st Jan 2022 14:17

Hope there was a good reason for the share transfer a year ago - and that both husband and wife are satisfied with whatever outcome resulted from it at the time - but the road comes to a dead-end here with the sale of the business.

In short, 'meeting all bar one criteria' is just another way of saying 'failing to meet one of the criteria' - and, No, you can't 'borrow' someone else's period of ownership!

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By More unearned luck
21st Jan 2022 14:41

The moral is to take advice before and not after the transaction.

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By Dib
21st Jan 2022 16:30

Did W have no shares at all in her name prior to H's largess? Just checking...

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