Alistair Darling today issued a major concession to the forthcoming capital gains tax changes due to come into effect on 6th April.
A new 10% Entrepreneur's Relief is to introduced (similar to the old Retirement Relief), for business owners selling up and making gains of less than a million pounds. Under the CGT plans announced at the end of last year, the existing taper relief would have been replaced with an across-the-board flat 18%, meaning an effective 80% hike in tax rates for vendors. This will now be lowered to 10% for business sale gains of under one million pounds.
Small business owners should welcome these changes, as it certainly goes some way to reclaim the 'entrepreneur spirit' many outraged business pressure groups have said the government had damaged with the new proposals.
Nobody I have spoken to about this has yet managed to locate the fine print on the government website, so watch out for the devil in the details!
The company provides a streamlined, tech-supported process for homeowners and residential landlords to acquire new home services, including heating and other infrastructure. The business offers products from leading brands through an automated stock...
The company provides a comprehensive range of domiciliary care services, including prompting and administration of medication, end-of-life and respite care, home visits, and personal care; including bathing, shopping, and domestic assistance.
LEASEHOLD
The business provides transport services across the UK and Ireland, focusing on recyclables and waste. 70% of the fleet comprises Walking Floor trailers with electric sheets on trailers, which are highly sought after by clients in the recycling indus...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.