Budget 2015 – Capital Gains

Capital Gains Tax

Two changes to Entrepreneurs Relief (ER) which come into immediate effect.  The first is that an individual will have to dispose of at least a 5% interest in a company or partnership if they are seeking to also claim ER on a sale of assets that are used by the company or partnership (the so-called “associated disposal” rule).  Secondly, a loophole has been closed which now prevents individuals who have less than a 5% interest in a company seeking to take advantage of the joint venture rules in order to be eligible for ER.

From 1 April 2015, the wasting assets exemption will only apply where the asset has been used in the seller’s own business.

The annual Capital Gains Tax exemption has increased from £11,000 to £11,100.

<Nov 2017>
MTWTFSS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
17
18
19
20
21
22
23
24
25
26
27
28
29
30

Nov 19

No events today
Dodd and Co are a professional friendly organisation who have supported me with my business start up  and still are!  A brilliant group.
-- Lyn Osbaldeston