The following Personal Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
Entrepreneurs’ relief is a capital gains tax (CGT) relief available to taxpayers who make a qualifying business disposal (essentially selling or giving away their business).
Entrepreneur’s relief is a key relief in many business scenarios. To read about it in the context of some common types of transactions, see the following guidance notes:
In most instances, entrepreneurs’ relief will be available to:
Qualifying gains arising from 23 June 2010 are taxed at a flat rate of 10%.
The computational aspects are discussed below.
When calculating the capital gain or loss on the disposal of land or buildings used in the business, you should consider the HMRC ‘Capital gains tax for land and buildings’ toolkit. The aim of the toolkit is to help identify the key risks for the CGT reporting of disposals of land and buildings.
Also see the Checklist ― entrepreneurs’
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