With the new Government's first budget due in just under a month (11 March), there has been speculation as to what the Chancellor Rishi Sunak may announce.
Entrepreneurs’ relief is a very valuable relief that can significantly reduce the tax payable on the sale of a business. Where the conditions for relief are met, capital gains are taxed at 10% rather than at 28% to the extent that the lifetime limit (£10 million from 6 April 2011 onwards) remains available. Spouses and civil partners each have their own lifetime limit.
