Entrepreneurs Relief post demerger

Employment/Officer requirement

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If shares are sold shortly after a demerger (3 months), a capital reduction demerger, when does the 12 month qualification period start for the employment/officer requirement?  Does it carry over from the original company, or start at the creation of the new company?

 

For background, the original group had a investment property company (mostly rental) which held a trading company.  The trading company was then transferred to a trading holding company, the same shareholders owned the same proportion.  So it ended up the property in a property holding co and the trading co held in a trading holding co.

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paddle steamer
By DJKL
21st Jan 2018 17:28
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Replying to DJKL:
Portia profile image
By Portia Nina Levin
22nd Jan 2018 11:22

October and January are 3 months apart. Coincidence?

@ OP The individual needs to be an employee of the company that is sold (or its group) for the one year period up to sale.

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Replying to Portia Nina Levin:
By Ruddles
22nd Jan 2018 11:59

Portia Nina Levin wrote:

October and January are 3 months apart. Coincidence?

Hmmm ... methinks not

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