entrepreneurs' relief

entrepreneurs' relief
England, Scotland, Wales
A relief from capital gains tax (CGT) that is available to individuals and trustees. It can be claimed in respect of gains arising on disposals of businesses, shares in personal companies and associated business assets with effect from 6 April 2008 (sections 169H to 169S, Taxation of Chargeable Gains Ac, 1992). The effect of the relief is to apply an effective rate of CGT of 10% to the first £1 million of qualifying gains made between 6 April 2008 and 5 April 2010, with the cumulative limit increased to £2 million for gains realised from 6 April 2010 onwards (section 4, Finance Act 2010). For an overview, see Practice note, Entrepreneurs' relief: overview (www.practicallaw.com/2-382-4258) or for more a more detailed analysis, see Practice note: Entrepreneurs' relief (www.practicallaw.com/4-381-1491).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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