From september 2011 until september 2013 I worked at a limited company and held 10% of shares with voting rights. I left two months ago. I still have 10% of the shares but no longer have voting rights. If the company is sold, do I qualify for ER?
I think there's confusion with the terms in the hmrc guidance http://www.hmrc.gov.uk/helpsheets/hs275.pdf . 'personal company' means you are an employee and hold at least 5% shares with voting rights. It also says 'The one-year qualifying period ends generally on the date of disposal of the shares or securities.' So if the shares were to be disposed of on 30 Dec (say), do I need to satisfy the conditions of it being a 'personal company' for the 12 months preceding 30 Dec that year? Or does the fact that it's not a 'personal company' on date of disposal not matter? Thanks.
Sorry for the delay. So are you saying that even if I'm not an employee, I can still qualify for ER?
Hi, I wanted to follow up on this - can you point me to any official guidance or material that supports your answer? I am neither a director, partner nor employee.
I have read the HMCR guidance, but it seems to make it clear that I must be an employee or officer. Why do you say it is irrelevant but important that I was in at the start?
If you can you point me to the right part in HMRC's guidance that would be much appreciated.