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Entrepreneurs’ relief: anti-forestalling rules

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HMRC’s guidance HS275 Entrepreneurs’ Relief (2020) has been updated to cover anti-forestalling rules for share exchanges and reorganisations taking place between 6 April 2019 and 10 March 2020 and where an election to disapply the normal exchange rules is made on or after 11 March 2020, and disposals involving unconditional contracts entered into before but completing after 11 March 2020. 11 March 2020 is the date when the lifetime limit for entrepreneurs’ relief was reduced from £10m to £1m. From 6 April 2020, entrepreneurs’ relief is known as business asset disposal relief.

Issue: 1511
Categories: News