A '20 questions' guide to this most valuable relief.
Throughout this article statutory references are to TCGA 1992 unless otherwise stated and reference to the two year qualification period should be read as the 12 month qualifying period for disposals made prior to 6 April 2019.
1. What are the primary requirements for entrepreneurs’ relief (ER) to apply?
The primary requirements for ER qualification are set out at TCGA 1992 Part V and can be summarised as follows:
ER is available to individuals where capital gains arise from either:
the ‘material disposal’ of a business asset;
the ‘material disposal’ of a partnership business asset; or
a disposal ‘associated with’ a ‘material disposal’ (see question 17).
ER can also apply on the disposal of trust assets in certain situations (see question 3). ...
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A '20 questions' guide to this most valuable relief.
Throughout this article statutory references are to TCGA 1992 unless otherwise stated and reference to the two year qualification period should be read as the 12 month qualifying period for disposals made prior to 6 April 2019.
1. What are the primary requirements for entrepreneurs’ relief (ER) to apply?
The primary requirements for ER qualification are set out at TCGA 1992 Part V and can be summarised as follows:
ER is available to individuals where capital gains arise from either:
the ‘material disposal’ of a business asset;
the ‘material disposal’ of a partnership business asset; or
a disposal ‘associated with’ a ‘material disposal’ (see question 17).
ER can also apply on the disposal of trust assets in certain situations (see question 3). ...
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:
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