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Markel Tax

29 Oct 2018

Autumn Budget 2018 – Entrepreneurs’ relief and incorporation relief

Where an unincorporated business disposes of its assets on incorporation in exchange for shares in the new company claiming hold-over relief under s 162 TCGA 1992, for entrepreneurs’ relief purposes the qualifying period re-starts from the date the shares were issued.

With effect from 6 April 2019, amendments will be made to treat the period immediately before a transfer of a business to a company to which s 162 applies to be treated as a part of the qualifying period for entrepreneurs’ purposes.

Given the proposed extension of the qualifying period for entrepreneurs relief to two years this extension will be welcome especially by businesses that receive offers for sale shortly after incorporation.

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29 Oct 2018

Our comprehensive Autumn Budget 2018 review