No tax change to Entrepreneurial relief in the Autumn statement
Author: Russell SmithNovember 29, 2015
There were rumours that the rules around Entrepreneurial relief may change in the Autumn statement.
Entrepreneurial relief is selling a business for a tax rate of 10% as opposed to 18% or 28%. You can do this multiple times in a lifetime up to sale proceeds of £10 million.
This relief is open to directors with over 5% shareholding.
Best of all, was that entrepreneurial relief was not adjusted.
In the summer budget, the chancellor announced a crackdown on individuals who attempted to fudge the rules by forming a management company. There were also no update on this.