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Entrepreneurs' Relief Advice

Following the introduction of CGT entrepreneurs’ relief by Finance Act 2008 Kevin Slevin, principal, has taken a major role in helping the tax profession to understand the intricacies of this important and very valuable relief. Not only has Kevin written many technical articles on this topic and lectured extensively to events organised by professional bodies but he is the author of the leading loose-leaf guide for practitioners on the topic, namely Slevin’s Guide to Entrepreneurs’ Relief.

Kevin has also participated as an active member of HMRC's CGT Liaison Committee which has explored many aspects of this important relief with officials. Kevin is recognised by many tax specialists as the leading independent expert on the subject of entrepreneurs’ relief.

Entrepreneurs' Relief: Shares in Trading Companies

Subject to the necessary conditions being satisfied, capital gains arising to a qualifying individual on the disposal of shares (or securities) in a ‘trading company’ (or a company which can be said to be the ‘holding company of a trading group’) may attract relief if the company can show that it meets the definition of ‘trading company’ found in Section 165A Taxation of Chargeable Gains Act 1992 (as amended by Finance Act 2015 and further amended by Finance Act 2016).

Frequently, there is doubt as to whether a company satisfies the conditions found in Section 165A. Having considered the position of numerous companies, Slevin Associates has built up a unique experience in this area and has guided the directors of several companies in presenting their respective cases to HMRC officials in order to obtain confirmation of HMRC’s interpretation of the position given the properly presented facts of the case in question.

Slevin Associates has considerable experience of HMRC’s ‘non-statutory clearance procedure’ which enables companies to approach HMRC seeking clarification of issues such as the trading company question in situations where there is genuine doubt as to how the legislation will be interpreted.

Slevin Associates is no longer accepting instructions direct from the business community or individual members of the general public. All instructions to advise come from either accountants or solicitors in practice. Potential clients are asked to provide a detailed brief before work is undertaken thereby enabling potential clients to receive an indication of the likely fee involved.

See Recent Articles for articles published in Taxation magazine on the topic of entrepreneurs’ relief.