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JK Moore v HMRC

In JK Moore v HMRC [2016] UKFTT 115 (22 February 2016) the FTT found that entrepreneurs’ relief was not available.

Mr Moore had been one of the founding shareholders and directors of a company. He wished to leave the business and he had agreed with the other directors that the company would purchase 2700 of his shares. It was also agreed that his employment would be terminated that he would receive an ex gratia payment and that he would resign as a director.

The issue was whether Mr Moore was entitled to entrepreneurs’ relief in relation to the disposal of the shares (TCGA 1992 s 169H). He had resigned as a director and terminated his employment on 28 February 2009. The relief could therefore only be available if the disposal had taken place before 28 February 2009.

Under TCGA 1992 s 28 the time of disposal is...

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