Budget 2020: Entrepreneurs' relief lifetime limit cut to £1m
Down £9m
“The changes to entrepreneurs’ relief will increase the amount of tax paid by businesses sold at a profit of over £1million" - Prudential's Les Cameron.
Chancellor Rishi Sunak has pledged to reduce the entrepreneurs' relief lifetime limit from £10m to £1m.
In his inaugural Budget speech this afternoon (11 March), new Chancellor described entrepreneurs' relief in its current form as "expensive", "ineffective" and "unfair". Despite calls to scrap the relief...
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