15. August 2018
On 6 July 2018, HMRC published draft legislation for the Finance Bill 2019, including the anticipated extension to the parameters of entrepreneurs' relief announced at Autumn Budget 2017.
The aim of the proposed legislation is to ensure that entrepreneurs are not discouraged from seeking external investment to finance business growth in circumstances where their own shareholding becomes diluted. Under the current rules, entrepreneurs' relief is available where an individual holds 5% of the ordinary shares in a company, enabling the individual to benefit from a reduced rate of tax (10%, rather than 20%) on any gain arising on the sale of those shares. (Other conditions must also be met.)
The new rules introduce two elections:
The changes will have effect from 6 April 2019.
Enterprise, Everywhere (all at once?)
von mehreren Autoren