Thinking of selling or transferring shares in your business?
Care is needed more than ever at present following proposed amendments to Entrepreneurs Relief announced recently by HMRC.
For UK business owners, in particular those who may be thinking about potentially selling their company, the draft proposals could have an impact on the number of shareholders benefitting from the relief, which allows qualifying individuals the opportunity to reduce the amount of Capital Gains Tax they would need to pay when selling all or some of their shares.
Although the announcements have been made by Chancellor, the draft changes are not yet in force and further changes may be made before the legislation is finalised. Unfortunately, it is not possible at this stage to give any definitive advice but please do talk to us first before implementing any changes to company shareholdings.
Our experts will be monitoring the situation carefully and if you would like to discuss your specific situation in more detail please contact our Tax Director, Chris Gumbley for support.
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