Entrepreneur’s Relief May Be Scrapped Saving UK Treasury €3.2 Billion in Tax

New Chancellor Rishi Sunak at No 10 Credit: No 10 flickr

NO mention has previously been made of scrapping entrepreneur’s relief which means that owners of small and medium sized business only pay 10 per cent rather than 20 per cent capital gains tax when they sell their business.

It was to encourage start-ups and this reduction applied to any company sold for less than £10 (€12) million but now as it has come to light that last year the Exchequer lost £2.7 (€3.2) billion from this option there are fears it will be removed in the next budget.

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