Website Cookie Policy

We use cookies to give you the best possible online experience. If you continue, we’ll assume you are happy for your web browser to receive all cookies from our website.
See our cookie policy for more information.

Practice Areas

More Information

thepartners@wrigleys.co.uk

Leeds: 0113 244 6100

Sheffield: 0114 267 5588

FOLLOW WRIGLEYS:

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

Strong and stable: ignore the spin, the substance still matters

Strong and stable might no longer be a fashionable phrase, but that's exactly what good governance of academy trusts is all about.

Click here to view more

Modern slavery statements and the academy trust

With victims of modern slavery in England likely to number over 10,000, we consider supply chain transparency requirements for academy trusts.

Click here to view more

Community-led housing: Lancaster gathering

Interested in community-led housing? Join us on Saturday 4 November at the Friend's Meeting House in Lancaster.

Click here to view more

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

Philanthropy Impact - The role of professional advisers, philanthropists...

Date: 07 Nov 2017

Venue:

Speaker: Fran Hegyi, Executive Director, Hull UK City of Culture 2017; Andrew Dixon, Director, Culture Creativity Place, Bid adviser Leeds 2023; Other speakers TBC

Further information and booking

Mailing list

Receive the latest news, events and updates from Wrigleys:

Follow Wrigleys: