ENTREPRENEURS’ Relief is a valuable tax relief available to individuals who are selling or winding up their business whether they are sole traders, partnerships or trading through a limited company.
The relief is given in respect of the disposal of all or part of a business, the assets in the business after it has stopped trading, or for the disposal of shares in a company, providing that the associated disposal conditions are met.
The relief reduces the rate of Capital Gains Tax payable to 10% on qualifying disposals.
It is available for qualifying gains up to the maximum lifetime limit of £10 million. This valuable relief can potentially save tax of up to £1.8 million for an individual and £3.6 million for a couple. If you are thinking about exiting your business contact Rob on 01823 462400 to ensure you maximise your sale proceeds, or email: rcadwallader@bjdixonwalsh.com.
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