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Entrepreneurs Relief and 2 year rule

Entrepreneurs Relief and 2 year rule

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I have a company secretary who resigned 12/1/18 having been appointed 28/11/12, this is definitely 2 years as an office holder, the rule below states "the following must apply for at least 2 years before you sell your shares" does it mean the 2 years immediately preceeding the sale (which hasnt happened yet) or any period of 2 years.

If you’re selling shares or securities To qualify, both of the following must apply for at least 2 years before you sell your shares: you’re an employee or office holder of the company (or one in the same group) the company’s main activities are in trading (rather than non-trading activities like investment) - or it’s the holding company of a trading group

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By Tax Dragon
05th Dec 2019 16:08

Why don't you read the rule itself rather than some useless and inaccurate idiots guide?

TCGA s169I(6) reads: Condition A is that, throughout the period of 2 years ending with the date of the disposal –
(a) the company is the individual's personal company and is either a trading company or the holding company of a trading group, and
(b) the individual is an officer or employee of the company or (if the company is a member of a trading group) of one or more companies which are members of the trading group.

Thanks (2)
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By CW2012
05th Dec 2019 16:44

Thanks Tax Dragon, unfortunately the idiots guide was Gov.UK. I had an awful feeling that the 2 years was up to the date of disposal not just any 2 years, I was clinging onto a very thin straw, our client is diyer and has constructed himself out of entrepreneurs relief on a chunk of shares.

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Replying to CW2012:
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By Tax Dragon
05th Dec 2019 16:50

CW2012 wrote:

Thanks Tax Dragon, unfortunately the idiots guide was Gov.UK

Others will see an open goal there.

I'll just sit back and enjoy the back of the net bulging, if that's alright with you.

Thanks (3)
Replying to CW2012:
RLI
By lionofludesch
05th Dec 2019 18:57

CW2012 wrote:

Thanks Tax Dragon, unfortunately the idiot's guide was Gov.UK.

I'll tap it into the net.

It's written by idiots. Ignore it.

Thanks (1)
RLI
By lionofludesch
05th Dec 2019 18:55

Eh dear - what a daft sod.

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