伊人直播

Entrepreneurs鈥� Relief was renamed in Finance Act 2020 with effect from 6 April 2020.鈥� The new name is generally used in this guidance but should be read as applying to times before that date.听

听

Legislative amendments were made by FA2016 in relation to disposals of assets made on or after 18 March 2015. The meaning of the terms 鈥渢rading company鈥� and 鈥渢rading group鈥� were changed in relation to the sale of shares or securities by an individual (TCGA92/S169I(6) and TCGA92/S169I(7A)) and disposals of shares by a trust (TCGA92/S169J(4)).听听

听

If a person wishes to establish whether a company in which they held shares or securities was a 鈥渢rading company鈥� for the purposes of qualifying for the relief whilst the shares or securities were held, that person should seek advice from the company.鈥� The company is most likely to be able to determine its trading status, which is ultimately a question of fact.鈥� Factors used for assessing the company鈥檚 trading status can be found at CG64055 辞苍飞补谤诲蝉.鈥�听

听

Most companies will engage in some non-trading activities. 鈥疶he legislation provides that where a company engages in non-trading activities, the company will still be considered a trading company for the purposes of the relief if their activities 鈥渄o not include to a substantial extent activities other than trading activities鈥�. 鈥疐urther information can be found at CG64090.听

听

If there remains difficulty in determining whether a company qualifies for the relief, and this difficulty stems from uncertainty over HMRC鈥檚 interpretation of tax legislation, rather than a question of fact, the company can seek from HMRC an opinion under the terms of the Other Non-Statutory Clearance service.鈥� Further information can be found at Non-Statutory Clearance Service - 伊人直播 (www.gov.uk).听

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If during an enquiry a caseworker requires a view on the trading status of a company, the caseworker should in the first instance contact the Business Profits technical team, if a formal submission is necessary please ensure that a copy is also sent to the Capital Gains technical team.