Sell My BusinessCGT and Entrepreneurs Relief
CGT rise to 28 per cent and no reintroduction of taper relief is disappointing – entrepreneurs and investors should continue to push hard for the reintroduction of taper relief.
But the increase in entrepreneurs relief is to be welcomed. Entrepreneurs’ relief rate of 10 per cent has been extended to a lifetime limit of £5m. Most entrepreneurs successfully sell only one or two businesses in their careers. This new limit should more than cover most entrepreneurs’ winnings. Unless, of course, you are Richard Branson!
[...] under the Capital Gains Tax legislation for the sale of his business and still potentially get Entrepreneurs Relief of up to £5 Million and we would recommend that you seek sound tax and financial advice before you [...]