Overview

entrepreneurs' relief


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A capital gains tax relief introduced from 6 April 2008, when it replaced taper relief and indexation allowance. Under the new relief, gains arising from the disposal of business assets are taxed as if reduced by 49ths this means the gain is charged at an effective rate of 10%, rather than the standard rate of 18%. The relief can be claimed more than once, up to a lifetime total of £1M of gains qualifying for relief.

Subjects: Accounting.


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