Measure for inclusion in the next Finance Bill - CIOT comments
Our submission is available to view below in PDF format.
Following a CIOT meeting in July with HMRC policy and HMT on the recent FA 2015 changes to Entrepreneurs‚ Relief (transfers of goodwill on incorporation, trading status of 'management companies' and relief on certain associated disposals), the CIOT, together with ICAEW, were asked to coordinate with, and take (constructive) soundings from, key stakeholders on where the problems lie and, importantly, to explore how they might be remedied while safeguarding the underlying policy. A meeting of stakeholders was held in August at the CIOT and the conclusions presented to HMRC at a further meeting on 18 August. The minutes and papers of the 18 August meeting are attached. The minutes were passed to HMRC for review and incorporate HMRC‚ s comments. However, for the avoidance of doubt HMRC have not agreed these minutes.