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thepartners@wrigleys.co.uk

Leeds: 0113 244 6100

Sheffield: 0114 267 5588

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Entrepreneurs' relief can be claimed by individuals in respect of certain business disposals.

These can include disposals of:

  • The whole or part of a business.
  • Business assets when the business ceases.
  • Shares in a trading company when the individual is an employee of the company and holds a certain shareholding.
  • Assets used by a partnership or company.

In certain circumstances, entrepreneurs' relief can be available to the trustees of a family settlement, provided that the trustees meet certain requirements and there is a beneficiary with a sufficient interest in the settlement.

If the conditions for entrepreneurs' relief are met, there can be a very significant saving of capital gains tax on a business disposal. However, this will not avoid a capital gains tax charge altogether. In some situations it may be more appropriate to defer a capital gains tax charge by handing on business assets and claiming holdover relief, so that any gains can be crystallised at a later stage, or uplifted on a death without a capital gains tax charge. Equally, it may be advantageous to crystallise some gains (and claim entrepreneurs' relief in doing so) and roll others into the purchase of replacement business assets. Whatever the situation, we can advise on the most tax-efficient way of securing a sale or handover of a business.

Inter-relationship with other taxes

Entrepreneurs' relief is often considered in tandem with other reliefs such as business property relief from inheritance tax. Meeting the requirements for the relief can often be far from straightforward, and it is therefore important to take appropriate advice at an early stage.

Entrepreneurs' Relief

Marie-Louise Hamilton View Biography

Marie-Louise Hamilton

Partner
Leeds

Thomas Wainman View Biography

Thomas Wainman

Partner
Leeds

Meet the team

Marie-Louise Hamilton View Biography

Marie-Louise Hamilton

Partner
Leeds

Elizabeth Pearson View Biography

Elizabeth Pearson

Solicitor
Leeds

Paul Colman View Biography

Paul Colman

Solicitor
Leeds

Thomas Wainman View Biography

Thomas Wainman

Partner
Leeds

The Yorkshire Family Business Bulletin

Thomas Wainman considers 'employee ownership' as an option for family businesses plus the usual mix of news, insights and perspectives.

Click here to view more

Proposed changes to the law on Wills and how they may affect you

We summarise proposed changes to the law on Wills (designed to encourage more people to make Wills) and the implications for lawyers and clients.

Click here to view more

Sources of finance for community-led housing

We have compiled a list of grants, loans and other finance options for community-led housing and co-housing groups.

Click here to view more

Schools Breakfast Club - 19th September

Date: 19 Sep 2017

Venue: Wrigleys Solicitors, 19 Cookridge Street, Leeds, LS2 3AG

Speaker: Lisa Armstrong, Chartered Educational Psychologist at Evolution Psychology Ltd

Further information

Breakfast Briefing - 17 October

Date: 17 Oct 2017

Venue: Radisson Blu, Leeds

Speaker: Dr John McMullen, Partner at Wrigleys Solicitors

Further information

Annual Charity Governance Seminar 2017

Date: 19 Oct 2017

Venue: Hilton City Leeds

Speaker: Sarah Atkinson , Julia Unwin CBE

Further information

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