Taxation Advice & Admin

Capital Gains Tax

Entrepreneurs’ relief

On the sale of your business, entrepreneurs’ relief may be available.

Entrepreneurs’ relief was introduced on 6 April 2008. If certain conditions are satisfied, it allows you to claim relief on the first £1 million of gains made on the disposal of all or part of a business, or a disposal of a business's assets after a business has ceased.

Entrepreneurs’ relief reduces the amount of gains liable to capital gains tax to an effective 10 per cent rate on all qualifying gains up to £1 million.

You can make several claims over your lifetime as long as the total of your claims does not exceed £1million. Entrepreneurs’ relief can only be claimed when you sell or dispose of all or part of your business after 6 April 2008.

Rollover relief

If you propose to reinvest the proceeds you receive from the sale of your business into another qualifying business asset, you may be able to claim rollover relief. This has the effect of deferring the gain until an ultimate disposal.

There are time limits for reinvesting the proceeds. Please contact us if this is of interest to you.

Other reliefs may be available to you dependent on your individual circumstances.