Income Shifting Legislation

During the 2008 budget, it was confirmed that the government is postponing the enactment of the income shifting legislation until 6 April 2009.

Although the consultation closed on 28 February 2008, the treasury has announced "A parallel consultation process over the summer......".

Once we have anything further to report, we will let you know.


Entrepreneur's Relief

It is our opinion that this relief will be available for winding ups under the ESC C16 procedure.

Please note that the "20% rule" for taper relief purposes continues to apply for Entrepreneur's Relief.