Market leading insight for tax experts
View online issue

Multiple completion buybacks and entrepreneurs’ relief


I am a co-founder and owner of 50% of the shares in Ruby Ltd. My co-founder Damian owns the other 50% but we cannot agree on our business strategy. Unless he agrees to resign as director and significantly reduce his shareholding I fear this will mean the end of the business. I cannot afford to buy Damian out myself but he has agreed to sell his shares back to the company over three years if he can pay 10% CGT on his gain. My accountant tells me HMRC may not agree he is entitled to this rate.


Eligibility for capital treatment
The first thing to do is establish whether Damian is eligible for capital treatment (and if the conditions are satisfied the...

If you or your firm subscribes to, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or '' for further assistance.