Gains tax relief for business owners is restricted

The Budget included measures to prevent the exploitation of entrepreneurs’ relief by artificial schemes.

From April 6th 2015, the relief – which reduces the rate of gains tax to 10% – will only be given if a stake of over 5% in a business is sold.

Entrepreneurs’ relief is quite tricky and those intending to make use of it will need to talk to their accountant a year or two in advance.