11th November 2020
Reported imminent rise in Capital Gains Tax
We have been keeping a close eye on reporting developments to Capital Gains Tax, and specifically the Entrepreneurs’ Relief Benefit aspect. This has long looked to be under close scrutiny, and today the BBC has reported specific plans – not only threatening the ER benefit, but also the taxation rate itself, bringing this more in line with income tax levels.
There is now a very limited window indeed where any shareholder can benefit from the 10% taxation rate from sale of shares, and this could be further limited by the predicted “rush” for ancillary services: accountants/solicitors/FCA applications for Change in Control.