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hi i am selling my company as a whole shareholding to a bigger

Customer Question

hi i am selling my company as a whole shareholding to a bigger company and will get a small percentage of that company in consideration.
That company is currently private but will go to IPO in the next 2 years whereby my shares should be worth considerably more.
If so do i qualify for entrepreneurs roll over relief for when i cash in the shares
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.
Hello, I'm Keith and happy to help you with your question.

The HMRC information sheet on roll over relief indicates that when an asset is disposed of and replaced by an asset costing the same or more then the relief may apply. Your disposal to the new company will be tax neutral. so is only when you ultimately dispose of the new company when it goes IPO will a gain be generated. To claim entrepreneur's relief you have to be in at the ground floor, so to speak. If the bigger company is starting up too then there should be no problem. If however, it has been in existence for some time it may not qualify.

I would be inclined to seek advice from HMRC on this matter. If you are happy to invest anyway there will be no skin off your nose either way, but at least you will be forewarned and it will only cost you a 53p stamp!
bigduckontax, Accountant
Category: Tax
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Expert:  bigduckontax replied 2 years ago.
Thank you for your support.

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