Since 2008 entrepreneurs’ relief (ER) has like the previous retirement relief and business asset taper relief provided significant CGT breaks for business owners on the sale of their businesses. The relief the conditions for which are found in TCGA 1992 Part 5 Chapter 3 reduces the CGT rate to 10% on lifetime gains of up to £10m thus producing a maximum saving of £1m.
When ER was introduced in 2008 the then chancellor said it provided benefit to business owners who wanted to sell their businesses at a cost of £200m somewhat dwarfed by the current £2.8bn the relief now costs the Treasury. Critics at the time ER was introduced argued that it was poorly targeted and did not serve the serial entrepreneur seeking to reinvest long...
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Since 2008 entrepreneurs’ relief (ER) has like the previous retirement relief and business asset taper relief provided significant CGT breaks for business owners on the sale of their businesses. The relief the conditions for which are found in TCGA 1992 Part 5 Chapter 3 reduces the CGT rate to 10% on lifetime gains of up to £10m thus producing a maximum saving of £1m.
When ER was introduced in 2008 the then chancellor said it provided benefit to business owners who wanted to sell their businesses at a cost of £200m somewhat dwarfed by the current £2.8bn the relief now costs the Treasury. Critics at the time ER was introduced argued that it was poorly targeted and did not serve the serial entrepreneur seeking to reinvest long...
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