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Who should act before 6th April 2008!


Although draft legislation is yet to be released the new relief is still likely to leave many with increased tax bills. The following may wish to consider what action can be taken for their circumstances before April 2008;

  • Individuals who acquired their business interests prior to 6th April 1998, as they will lose the benefit of inflation under the new rules.
  • An individual who is likely to sell a number of businesses in their lifetime and the total gains of all the sales exceed the £1 million lifetime limit.
  • Where an individual’s gain on the current business, or business assets is likely to exceed £1 million.
  • Company shareholders who have not been employees or directors.
  • Company shareholders who have been employees or directors of the company and own less than 5% as they will not be entitled to the new relief.
  • Farmers and landowners where any sale of the land is unlikely to correspond with the cessation of a business or the disposal of part or all of their business interest.
  • Commercial property landlords where any sale of the land is unlikely to correspond with the cessation of a business or the disposal of part or all of their business interest.
  • Individuals currently holding loan notes following the sale of a private trading company.

Please feel free to call us (without obligation) on 0845 120 4879 if you would like to discuss any of the content of this newsletter.


This PayLess Tax report is provided for clients of Cognitor and has been written for general interest. No responsibility for loss occasioned to any person acting or refraining from action as a result of the information contained in this edition is accepted. In all cases appropriate advice should be sought before making a decision. The content is correct as at 28th January 2008.