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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

Direct employment of carers: Managing the risks

Austin Thornton discusses regulation and risk management in the direct employment of care staff focussing on CQC registration and insurance problems.

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The Minimum Energy Efficiency Standard: what is it and how will it affect you?

As from April 2018 the Minimum Energy Efficiency Standard (MEES) could prevent landlords from letting properties with low EPC ratings.

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Professional trustee; an update

The Pension Regulator sets out its revised description of a 'professional trustee.

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Schools Breakfast Club - Changing the rules: gender issues and pupil policies - 16th January 2018

Date: 16 Jan 2018

Venue: Wrigleys Solicitors, 19 Cookridge Street, Leeds

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Employment Breakfast Briefing - 6 February 2018

Date: 06 Feb 2018

Venue: Radisson Blu, Leeds

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Religious life:

Date: 21 Feb 2018

Venue: Wheeler Hall, Leeds Cathedral, St Anne's Street, Leeds

Further information

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