Tag Archives: entrepreneurs’ relief

Business asset disposal relief: A ‘personal’ issue

Most trading company owners wishing to claim capital gains tax business asset disposal relief (BADR) (formerly known as entrepreneurs’ relief (ER)) on an eventual sale of their shares need to satisfy certain conditions throughout a two-year period ending with the disposal. Make it ‘personal’ One of those conditions is that the company is the individual’s… Read More »

Selling your company? How dare you!

A targeted anti-avoidance rule (TAAR) was introduced (from 6 April 2016) to prevent ‘phoenixism’. In broad terms, this practice involves company owners winding up their ‘old’ companies and extracting profit reserves as capital (instead of income) and repeating the exercise in one or more successive businesses. The effect of the TAAR applying is that an… Read More »