As of April 2020 Entrepreneurs Relief has been renamed Business Asset Disposal Relief (BADR).
For a business owner to qualify for this lower rate of Capital Gains tax on a business sale the owner must meet the qualifying criteria listed at the URL below. https://www.gov.uk/business-asset-disposal-relief
If you are still unsure if you qualify for Business Asset Disposal Relief after reading the information at the link above then please give us a call on 0333 3440778 to speak to an advisor and confirm that you qualify for BADR on the sale of your business.
Corporate Financial Advisors across the UK suspect that this generous tax relief will be watered down or abolished all together in the future.
If you are considering the timing of a business sale it is important that you take this into account. It is possible that you will be able to generate a better offer in the future given the current climate. However you may end up receiving less after paying a much higher rate of tax on the proceeds of your business sale.
If you would like expert advice to help you consider the possibility, timing and value of a business sale please don't hesitate to call us and request a free, confidential consultation.
cf@opusllp.com - 0333 3440 778
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