Changes to Entrepreneurs Relief

Prior to 11 March 2020, business owners could sell multiple, qualifying businesses during their lifetime, and as long as the total chargeable gains did not exceed £10m, a reduced rate of Capital Gains Tax of just 10% would apply.

Since budget day, 11 March 2020, this lifetime allowance has been reduced to £1m.

Business owners who are contemplating a sale of their business after the March date may need to rethink their disposal strategies as this change could potentially double the amount of CGT payable on their sale.

Please contact us for more information on this topic.

Latest Blog
25
Apr

High risk and all eggs in one basket

The “boomer” population was used to the idea that you could have a job fo...

Read More
23
Apr

More corporate red tape

We are still waiting for the government to introduce secondary legislation that will ...

Read More
18
Apr

New employment protections

The following changes were enacted from 6 April 2024. These changes apply to England,...

Read More
16
Apr

Opening up small company reporting

Companies House are working on detailed changes that will require small and micro siz...

Read More