Entrepreneurs Relief

[Bamber]

Hi,

My LTD company is currently 1 years old and i was thinking of winding it down in March 2020 and claiming ER on the retained profits. can i do this or does the company have to be at least 2 years old before i can take this course of action?
thanks

bamber.

[NCOTBAC]

A 5 second search on google and a 10 second read of the page it brings up finds.

Entrepreneurs' Relief - GOV.UK

If you’re selling all or part of your business
To qualify for relief, both of the following must apply:

you’re a sole trader or business partner
you’ve owned the business for at least 2 years before the date you sell it

Bit more effort is required. Better still, discuss with your accountants to make sure you are picking the optimal closing strategy that suits your individual requirements.

[Craig@Clarity]

Hi,

My LTD company is currently 1 years old and i was thinking of winding it down in March 2020 and claiming ER on the retained profits. can i do this or does the company have to be at least 2 years old before i can take this course of action?
thanks

bamber.

In basic terms, you'll be eligible to claim ER if you're an office holder, hold at least 5% of the shares in the company, the company is at least 24 months old and you've traded within that period.