Entrepreneurs’ Relief (ER) is a valuable tax relief for those disposing of a business. It can give access to a 10% rate of capital gains tax, subject to a £10 million lifetime limit.
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Getting tax relief on a claim for capital allowances is not always plain sailing. This was recently highlighted at the tax tribunal, where a taxpayer faced the possibility of forfeiting tax relief on 80% of his expenditure.
This month we celebrate Tanya Dickson’s twentieth year with Hamlyns and Andrew Douthwaite’s promotion to Manager.
Philip Hammond presented his Spring Statement on Wednesday 13 March 2019. So, what exactly did the Chancellor say and, more importantly, what did it actually mean?
Where a property is someone’s residence for all their ‘period of ownership’, there is no capital gains tax to pay on the sale of a main private residence.