Budget 2010 - Entrepreneurs’ Relief
The Chancellor made a welcome and unexpected announcement regarding Entrepreneurs’ Relief, the relief that potentially reduces the rate of capital gains tax (CGT) to 10% on certain disposals.
With effect from 6 April 2010, the lifetime limit of gains qualifying for Entrepreneurs’ Relief will double, to £2 million.
A good reason for some people currently selling their businesses to delay matters until the new tax year, perhaps.
Date: 24th March, 2010
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