I currently run two limited companies in parallel and each has a different SIC code. If I decide to close one company can I get Entrepreneurs Relief on that closed company and still continue to trade through the remaining company without it impacting on my ER claim?

27/09/2019

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Question:

I currently run two limited companies in parallel and each has a different SIC code. If I decide to close one company can I get Entrepreneurs Relief on that closed company and still continue to trade through the remaining company without it impacting on my ER claim?

Answer:

You will be able to claim Entrepreneurs Relief and continue to trade through another existing business. It is only the creation of a new similar business within certain time frames that would cause problems with HMRC and your previous ER claim.