Entrepreneurs' tax relief could face reform in Autumn Statement

Entrepreneurs' tax relief allows those selling a business to pay capital gains tax on their profits at a reduced rate. But the relief, which is worth about £3bn a year and mainly benefits just a few thousand business owners, could be vulnerable to tightening by the Treasury, according to a report in the Financial Times. Entrepreneurs relief was claimed by 43,000 people in 2013/14. It allows business owners selling up to pay only 10% in capital gains tax instead of 28% up to a lifetime limit of £10m. Tax Research UK director Richard Murphy told the FT the brunt of the tax relief giv...