Finance Bill 2016 included provisions reversing many of the severe restrictions to entrepreneurs’ relief introduced in FA 2015. Martin Mann (Gabelle) examines these complex but welcome changes.
With a six-fold increase in the cost of entrepreneurs’ relief (ER) since 2008/09 which reached an estimated £2.9bn by 2013/14 it is not surprising that limiting the scope of the relief has been firmly on HMRC’s agenda in recent years. For many however the changes made in FA 2015 which restricted claims for relief in the succession of family businesses and some genuinely commercial joint venture (JV) structures were steps too far.
An analysis of the 2015 changes was provided in Tax Journal articles by Andrew Roycroft and Anne Fairpo (24 April 2015). The changes were intended to prevent ER being claimed via contrived structures or where there was no...
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Finance Bill 2016 included provisions reversing many of the severe restrictions to entrepreneurs’ relief introduced in FA 2015. Martin Mann (Gabelle) examines these complex but welcome changes.
With a six-fold increase in the cost of entrepreneurs’ relief (ER) since 2008/09 which reached an estimated £2.9bn by 2013/14 it is not surprising that limiting the scope of the relief has been firmly on HMRC’s agenda in recent years. For many however the changes made in FA 2015 which restricted claims for relief in the succession of family businesses and some genuinely commercial joint venture (JV) structures were steps too far.
An analysis of the 2015 changes was provided in Tax Journal articles by Andrew Roycroft and Anne Fairpo (24 April 2015). The changes were intended to prevent ER being claimed via contrived structures or where there was no...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
