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I am a 50% shareholder and director of a ltd company.

The company has a value of approx. £700K of which approx. £600K is cash. First Question: Can I take 50% of the value of company in cash from the company (ie: £350K) by giving up/cancelling my shares and resigning as a director from the company, leaving the second direct/shareholder as the sole director/shareholder of the company as it then remains? Second Question: Am I then able to claim Entrepreneurs Relief on the £350K that I have taken out of the company? |

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