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Entrepreneurs’ relief
The amount of an individual’s capital gains that can qualify for Entrepreneurs’ Relief are currently subject to a lifetime limit of £1 million. Gains qualifying for the relief are charged at an effective tax rate of 10% rather than the usual rate of 18%.
The lifetime limit will be doubled to £2 million for disposals on or after 6 April 2010.
Internet link: HMRC Budget note
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Please contact Tracy Jenkins, Tax Director on 023 8046 1200. |
HWB
Chartered Accountants, Highland House, Mayflower Close, Chandlers Ford, Eastleigh,
Hampshire, SO53 4AR.
