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 a...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
