End of Entrepreneurs’ Relief? ACT NOW
End of Entrepreneurs’ Relief? ACT NOW
It has been reported that the Entrepreneurs’ Relief, a hugely valuable tax break for entrepreneurs, could ‘be axed’ at the next budget in March 2020. This will have a significant impact on anyone who is considering an ER-eligible disposal.
The Conservative government have made some statements that suggest they may raise the current 10% capital gains tax rate or reduce the £10m lifetime limit. It is also possible that ER could be abolished altogether. The Prime Minister himself has said that the Treasury is against the ER and that the tax break for entrepreneurs is likely to be abolished .
My advice to any client considering a disposal of your business is to act before the budget on 11th March. Our Corporate team has substantial experience in completing transactions in a short time frame and are also able to discuss alternative business structures that may suit you.
Don’t wait to see what may happen in the budget, speak to one of our team now and find out what options are available to you. Call us on 03300 130 539 or email corporate@ibblaw.co.uk
