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There are clear winners and losers when it comes to applying the new entrepreneurs' relief rules, says LESLEY STALKER
KEY POINTS
- Entrepreneurs' relief gives rise to some surprising anomalies
- Care needs to be taken when selling commercial property
- EMI option holders may lose out because of the de minimis levels
- Overall entrepreneurs' relief will reward real risk takers
Entrepreneurs' relief comes into effect from 6 April 2008.
Following on from Simon McKie's outline of the main points of entrepreneurs' relief the aim of this article is to examine in detail the nature of this new legislation as it relates to five different client scenarios.
This article highlights for each scenario what could arguably be defined as the 'winners' and 'losers' in relation to this relief and recommends a range of actions we may wish to advise clients to take. In some cases the term 'winners' is unfortunately relative and subjective.
In one...
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