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.

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Jul 15

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What's the best thing about Dodd & Co? Heidi Marshall. She has taken exemplary care of my business accounts - a true dental practice specialist. I would not hesitate to recommend her to any of my colleagues.
-- Anne Nicholson