CAPITAL GAINS ENTREPRENEURS’ RELIEF RESTRICTED

There were many rumours in the run-up to the Budget that CGT entrepreneurs’ relief that allows certain business owners to pay just 10% tax on disposal would be abolished. Rather than abolish the relief the Chancellor has announced that from 11 March 2020 onwards the relief will only be available against the first £1 million of lifetime gains instead of the previous £10 million limit.
 
The relief will therefore still benefit most small business owners.