Entrepreneurs' Relief
Managing your tax obligation efficiently and more!
Entrepreneurs’ relief can reduce your effective rate of Capital Gains Tax from 28% to 10% in certain circumstances. Capital Gains Tax was increased from 18% to 28% on 23 June 2010.
The key features of the entrepreneurs' relief are:
- relief is available for disposals of businesses, interests in businesses and certain disposals of shares in trading companies
- relief is available where businesses have operated for at least 12 months
- relief is limited to £10m per person in a lifetime
It is important to note that complex rules govern the availability of the relief for assets owned outside of a personal business.
To ensure that you obtain maximum benefit, it is critical that you review your entitlement to entrepreneurs' relief at the earliest opportunity.
Our team advise on:
- structuring business ownership to maximise available relief
- pre-sale planning
- availability of relief for ‘letting businesses’
- planning ownership of family assets to maximise relief
- complex ownership structures
- compliance requirements to obtain relief