Q&As

Where a director of a company appoints another person to act as an alternate director, does that prevent the director claiming ‘entrepreneurs’ relief’ in respect of share held by that director?

read titleRead full title

Published by a ÀÏ˾»úÎçÒ¹¸£Àû Tax expert
Published on: 29 May 2019
imgtext

Entrepreneurs’ relief (ER) is a complex relief for individuals and certain trusts from Capital gains tax in respect of disposals of certain business assets and shareholdings, subject to detailed conditions set out in sections 169H–169V of the Taxation of Chargeable Gains Act 1992 (TCGA 1992). Those conditions were made more complex in the Finance Act 2019.

In summary, the relief takes the form of a reduced tax rate of 10% in respect of chargeable gains from such disposals, capped at an overall lifetime limit per taxpayer of (currently) £10m. For further

Powered by Lexis+®
Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Alternate director definition
What does Alternate director mean?

An individual (whether another director or any other person) appointed by a director to exercise that director’s powers and carry out that director’s responsibilities in relation to the taking of decisions by the directors, in the absence of the alternate's appointor.

Read more

Popular documents

R&D capital allowances

R&D capital allowancesFORTHCOMING CHANGE: At Spring Budget 2021, the government announced a wide-ranging review of research and development (R&D) reliefs, beginning with a consultation exploring the nature of current private sector R&D investment and the impact of existing R&D relief schemes. This

When would preference shares fall under the shares as debt rules and hence the dividend payments would

When would preference shares fall under the shares as debt rules and hence the dividend payments would fall to be taxed as debt as opposed to qualifying for the corporation tax exemption for dividend payments?The ‘shares as debt’ rules applied to shares held by companies up until 21 April 2009 (for

Distribution key concepts—repayment of capital

Distribution key concepts—repayment of capitalAlongside the concept of new consideration, which is further explained in Distribution key concepts—new consideration, the concept of repayment of capital is vital in determining whether certain transactions are distributions.At the broadest level the

Capital allowances—interaction with CGT, VAT and stamp taxes

Capital allowances—interaction with CGT, VAT and stamp taxesThis Practice Note sets out how the capital allowances rules interact with the rules relating to:•capital gains tax, including corporation tax on chargeable gains (CGT)•value added tax (VAT), and•stamp taxes, namely:◦stamp duty land tax