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ENTREPRENEURS RELIEF

ENTREPRENEURS RELIEF

The entrepreneurs’ relief scheme allows for certain qualifying business gains, received upon the disposal of business assets, to be taxed at a lower Capital Gains Tax (CGT) rate. This is a considerable reduction to 10%, which makes the entrepreneurs’ relief scheme very beneficial.

There are a large number of conditions surrounding the asset qualification of the scheme, meaning not all business assets are eligible to receive the CGT relief. Before disposing of business assets, it can be invaluable to seek the guidance of a trained CGT accountant, who can advise you on where you will be able to obtain the reduced rate of CGT under the entrepreneur’s relief.

ENTREPRENEURS RELIEF​ TAX SUPPORT

The claiming process for the entrepreneurs’ relief scheme can be very complicated, with a requirement to work out the gains and losses, deduct the tax-free allowance, and then calculate the CGT tax owed. At The Accountancy Solutions, we can help with every stage of the process, from maintaining your CGT records, to calculating your CGT requirements, and helping you to claim entrepreneurs relief on the qualifying assets.

Our expert accountants provide many services pertaining to CGT and the entrepreneurs’ relief, with advice and support available in the following areas:

  • Claiming for Entrepreneurs Relief
  • Entrepreneurs Relief Eligibility
  • Calculation of Qualifying Gains for Entrepreneurs Relief
  • Capital Gains Tax Rates Under Entrepreneurs Relief
  • Capital Gains Tax Losses and Gains Calculations
  • Capital Gains Tax Reliefs
  • Capital Gains Tax Returns
  • Capital Gains Tax Return Amendments

Advice for Entrepreneurs Relief

When you have a mixture of assets, some which qualify for relief and some which do not, it can be a very complicated process calculating just what CGT you will owe to the HMRC. With our expert services and comprehensive knowledge of business CGT and tax reliefs, you can trust our professional team to keep your affairs in order and ensure that you never miss a deadline. For more information about the entrepreneurs’ relief scheme and CGT, don’t hesitate to contact our expert team at The Accountancy Solutions today.

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