Alistair Darling today issued a major concession to the forthcoming capital gains tax changes due to come into effect on 6th April.
A new 10% Entrepreneur's Relief is to introduced (similar to the old Retirement Relief), for business owners selling up and making gains of less than a million pounds. Under the CGT plans announced at the end of last year, the existing taper relief would have been replaced with an across-the-board flat 18%, meaning an effective 80% hike in tax rates for vendors. This will now be lowered to 10% for business sale gains of under one million pounds.
Small business owners should welcome these changes, as it certainly goes some way to reclaim the 'entrepreneur spirit' many outraged business pressure groups have said the government had damaged with the new proposals.
Nobody I have spoken to about this has yet managed to locate the fine print on the government website, so watch out for the devil in the details!
The business is a well established operating for over 25 years. The business has a reputation for quality and service representing nine premier manufacturers. Supply’s to carpentry and joinery trades (B2B) and the DIY and hobbyists (B2C) markets.
The business is an established and reputable engineering company based in Oxfordshire. Well-spread client base with considerable growth potential. 2,230 ft.² fully equipped workshop, storage and office plus yard and parking.
The business is an award winning business with healthy trading history in prime central trading location in historic North Gloucestershire town, and an excellent net profit to the owner. Very well presented and equipped premises with ample cold stora...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join over 2,500 people today.
Get news on businesses for sale and companies in administration straight to your inbox