Entrepreneurs' Relief

[mdianuk]

Has anyone been through this process by disposing of all or part of their company? Was it a straight forward process? What are the restrictions on disposing of a limited company but then continuing to operate part of that business as a sole trader; or even retaining part of the company that still trades?

Any pointers appreciated, as one of my companies is slowly wrapping up for the majority part, but other sister companies under the same parent trading name continue to do ok.

[Alpinestars]

mdianuk said:

Has anyone been through this process by disposing of all or part of their company? Was it a straight forward process? What are the restrictions on disposing of a limited company but then continuing to operate part of that business as a sole trader; or even retaining part of the company that still trades?

Any pointers appreciated, as one of my companies is slowly wrapping up for the majority part, but other sister companies under the same parent trading name continue to do ok.

Doesn't make a whole heap of sense? It appears parent is selling sub, and therefore the question is whether SSE is available to parent, not whether ER is available to shareholders?

[ringram]

Been there done that. There are pretty strict rules. You are probably best of selling 100% of your stake and starting a new business separately.
You need to get some advice as you dont want to get full rectal tax rape instead of the 10% quick fisting.

There are rules around ownership duration and percentage etc. I thought it also only applied to limited companies, but either way, get advice for sure.
You can DYOR to a certain degree but the rules were tightened up recently due to abuse. (Surprise surprise).