Telling the truth about SME life today

CGT: Think before you sell

Share on facebook
Share on twitter
Share on linkedin
Share on email

Under the new rules, taper relief will be replaced by an 18 per cent rate of CGT for disposals where gains exceed £1m. For gains below £1m, business owners will pay 10 per cent tax.

But FDUK, a service that offers part-time finance director support, is advising entrepreneurs not to act rashly.

FDUK director Mike Pawley says: “In the current economic conditions it’s not a great market to be selling a business, so our advice to entrepreneurs is to hang on for a year or so.

"The increased net value of the business may then more than make up for the money lost through paying capital gains tax.

“For smaller businesses where the entrepreneur is making a gain of less than £1m the new regime will make little difference in any case”

Picture source

Trending

Topic

Share on facebook
Share on twitter
Share on linkedin
Share on email

Related Stories

More From

Trending

If you enjoyed this article,
why not join our newsletter?

We promise only quality content, tailored to suit what our readers like to see!