Business owners considering selling may need to bring their sale forward
As the general election approaches, there are increasing concerns that Entrepreneurs’ Relief could be vulnerable to change or even abolition.
Entrepreneurs’ Relief was introduced under the Finance Act 2008 with the aim of promoting entrepreneurship and innovation that fuel the economy. It allows those disposing of qualifying business assets to pay a reduced capital gains tax rate of 10% on a lifetime limit of £10m rather than the normal rate of 18% or 28%.
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