Entrepreneur's relief was extended in today's emergency Budget as George Osborne set out plans to kick-start the economy by rejuvenating the private sector.
Entrepreneur's relief - currently applied at a rate of 10% to the first £2m of entrepreneurs' gain - is to be extended to the first £5m of lifetime gains.
Additionally, the enterprise finance guarantee scheme supporting small and medium sized businesses' access to bank lending will also be extended.
A cut in corporation tax to an eventual figure of 24% and a commitment by the Chancellor not to make steeper cuts in capital spending were also included in a Budget designed to boost businesses and the private sector.
"The corporation tax cut is obviously good news for people like me and the extension of entrepreneur relief is equally good," says Informed Choice MD Martin Bamford.
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