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Our clients were the directors of a successful trading company. A few years ago the company ceased trading and approximately £200 000 remained in the company bank account.
The directors wished to invest the money and on the advice of their previous agent this was used to purchase a property that was then let out.
My concern is that I am now dealing with an investment rather than trading company and that entrepreneurs’ relief would not be available if the company were to be wound up.
Is it too late for this relief to be claimed by the shareholders if the company were to sell the property and be wound up now?
On the subject of selling the property the company director/shareholders are able to purchase it from the company.
They estimate that at the present time the property is only worth about £150...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
