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When do you apply entrepreneur relief to CGT

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When do you apply entrepreneur relief to CGT
May 6th 2014 AN ACCA USER 220 Points

2 Replies

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  • when you are making a whole or part disposal of an asset
  • and if the asset being disposed of has been owned 12 months up to the date of disposal
  • the remaining part of the asset should be atleast 5% holding if they are shares- not too sure about this one, need to review notes
May 22nd 2014 AN ACCA USER 240 Points
0 Votes

Disposal of all or part of a business
Disposal of assets ONLY on cessation of a business

As mentioned by Alice,
Must own asset/business for 12 months prior to disposal
Asset/business must be used for the purposes of trade/trading company.
individual must be an officer of the company(employee/director etc)

Here is a good worksheet written by HMRC

http://www.hmrc.gov.uk/helpsheets/hs275.pdf

June 3rd 2014 AN ACCA USER 140 Points
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