TAX INCENTIVES FOR ENTREPRENEURS’
Entrepreneurs’ Relief (ER) is a particularly attractive tax relief. Entrepreneurs’ Relief reduces the amount of Capital Gains Tax (CGT) on a disposal of qualifying business assets on or after 6 April 2008, allowing relief up to a maximum of £10m. However, there are strict conditions regarding who can qualify for ER and when claims can be made.
ER is generally aimed at individuals and is not available for companies, and the qualifying period is two years, up until when you disposed of the asset or an interest in the asset, or when the business ceased. The assets themselves must qualify too. Given the complexity of all the stipulations, we recommend you talk to us before making any decisions.