Selling your business – 10% tax may apply to sale
13 Dec, 2017
Entrepreneurs' relief applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. Where entrepreneurs' relief is available CGT of 10% is payable rather than the normal main rate of 20%. This can significantly
reduce the amount of CGT due and there is a £10 million lifetime limit.
The lifetime limit means that individuals can qualify for the relief more than once, subject to the overriding condition that 20% CGT will be charged once the total amount of qualifying capital gains exceed £10 million.