Introduction Summary
1.This section changes the conditions which must be met in order for an individual to claim entrepreneurs’ relief (ER) on a disposal of his or her personal assets. These are assets which the claimant owns personally but which are used in a business carried on by a partnership of which he or she is a member, or by a company in which he or she is a shareholder. Under the new rules, such a disposal must be associated with a significant reduction in the claimant’s participation in the business in terms of his interest in the partnership’s assets or his shareholding in the company. The new rules come into effect in relation to disposals on or after 18 March 2015.