Article preview: Business owners can breathe a sigh of relief with confirmation that calls to kill off entrepreneurs’ relief were rejected in the Budget. The tax relief allows qualifying business owners to pay capital gains tax at a lower rate of 10% when they sell some or all of their shares in a business, rather than the standard rate of 20%. It might not have been scrapped in the Budget, but the qualifying rules have been tightened up. From 6th April 2019, business owners will need to hold shares for at least two years before qualifying for the tax relief. This doubles the original holding requirement of one year.
Budget respite for capital gains tax entrepreneurs’ relief
This 445 word blog post explains changes to the qualifying rules for captial gains tax entrepreneurs’ relief announced in the Budget. Written on 29th October 2018.
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