Nicetoknow
Registered User
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Hi. I work 38 hours a week as an employee for my employer and separately I have my own company, of which I am a 40% shareholders. I work in this company evenings, weekends and
I would like to sell this company within the next 4 years ( with agreement from other shareholder )
My question is, would I be excluded from entrepreneurs relief due to my other job?
If yes, would reducing my days in my 'day job' to for example 4 days get me over the line? Or would revenue take 'working hours' as a standard 40 hour week.
"The individual must have spent not less than 50% of their working time in the service of that company (or the group, as appropriate) working in a technical or managerial capacity and must have done so for a continuous period of three out of the five years ending with the disposal of the shares"
Thanks
I would like to sell this company within the next 4 years ( with agreement from other shareholder )
My question is, would I be excluded from entrepreneurs relief due to my other job?
If yes, would reducing my days in my 'day job' to for example 4 days get me over the line? Or would revenue take 'working hours' as a standard 40 hour week.
"The individual must have spent not less than 50% of their working time in the service of that company (or the group, as appropriate) working in a technical or managerial capacity and must have done so for a continuous period of three out of the five years ending with the disposal of the shares"
Thanks