Entrepreneurs Relief Entrepreneurs Relief
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  1. #1

    Nervous Newbie


    Join Date
    Sep 2018
    Posts
    1

    Default Entrepreneurs Relief

    Hi,

    My LTD company is currently 1 years old and i was thinking of winding it down in March 2020 and claiming ER on the retained profits. can i do this or does the company have to be at least 2 years old before i can take this course of action?
    thanks

    bamber.

  2. #2

    Should post faster


    Join Date
    Dec 2012
    Posts
    121

    Default

    A 5 second search on google and a 10 second read of the page it brings up finds.

    Entrepreneurs' Relief - GOV.UK

    If you’re selling all or part of your business
    To qualify for relief, both of the following must apply:

    you’re a sole trader or business partner
    you’ve owned the business for at least 2 years before the date you sell it
    Bit more effort is required. Better still, discuss with your accountants to make sure you are picking the optimal closing strategy that suits your individual requirements.
    Last edited by NCOTBAC; 2nd July 2019 at 11:51.

  3. #3

    Fingers like lightning


    Join Date
    Nov 2010
    Location
    Poole
    Posts
    704

    Default

    Quote Originally Posted by Bamber View Post
    Hi,

    My LTD company is currently 1 years old and i was thinking of winding it down in March 2020 and claiming ER on the retained profits. can i do this or does the company have to be at least 2 years old before i can take this course of action?
    thanks

    bamber.
    In basic terms, you'll be eligible to claim ER if you're an office holder, hold at least 5% of the shares in the company, the company is at least 24 months old and you've traded within that period.

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