Entrepreneurs’ relief is more valuable than ever in view of the recent Budget announcement doubling the limit to £10 million. Important points to consider when advising on the relief include: ensuring that there is a sale of the whole of the business; avoiding a pitfall in relation to the ‘5% rule’ when advising OMBs where there is more than one class of shares; not overlooking transitional relief where a gain is deferred into QCBs; and considering the implications for entrepreneurs’ relief where shares in a family company are held by a discretionary trust.
