An early Valentine’s Day poem
4 February 2020: Roses are red, grass is green, after 11th of March, Entrepreneurs’ Relief may no longer be seen.
The next Budget will be held on 11 March 2020 and it is expected that the Government will deliver on its manifesto commitment to review and reform Entrepreneurs’ Relief. This could result in shareholders’ distributions in a winding up being subject to a headline Capital Gains Tax rate of 20% rather than the 10% available if qualifying for Entrepreneurs’ Relief and so business owners are therefore being urged to review their options.
If you and/or a client would like to discuss a solvent liquidation then please do get in touch; and the relevance of Valentine’s Day? This is the day by which we ought to be appointed as liquidators so as to maximise the likelihood of us being able to distribute funds to shareholders before 11 March…