Entrepreneurs relief is “changing” lifetime allowances and is to be heavily reduced. Without doubt this news (albeit not a shock) is, to some, bad news.
Without doubt this news (albeit not a shock) is, to some, bad news.
However, the lifetime allowance will still remain at a lower amount of £1m this is still a positive tax relief.
If you are looking to sell your business please do not panic or rush - let the dust settle and plan accordingly.
The one warning I have is to push through a sale to maximise relief may seem the most beneficial option - but be aware buyers will know and act accordingly!
Take and seek advice from your advisors and if you would like to get in touch please feel free!