Thursday, July 26, 2012 | Posted by: Mike Hyland
Categories: Business, Personal, Protecting your wealth | Tags: tax, capital gains tax, inheritance tax, CGT, IHT, Mike Hyland, shares, sale, BPR, Entrepreneurs' Relief, Business Property Relief, Entrepreneurs’ Relief, non-trading assets, holdover relief, company sale, HMRC clearance, trading company, trading status, investment assets
There are a number of reliefs that can help company owners mitigate capital gains tax (CGT) on selling or giving away their shares, and inheritance tax (IHT) on their death or on a gift into trust. A general requirement for all of these reliefs is that your company or corporate group must be ‘trading’. Here I’ll explore what this means and how the position might be optimised.