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Entrepreneurs Relief

What is Entrepreneurs’ Relief?
Entrepreneurs’ Relief reduces the amount of the capital gain to be taxed on a disposal of qualifying business assets on or after 6 April 2008, as long as you have met the qualifying conditions throughout a one year qualifying period either up to the date of disposal or the date the business ceased. The relief is subject to a lifetime limit of £5,000,000 of qualifying capital gains for each individual.

Who can claim relief
Entrepreneurs’ Relief is available to individuals and some trustees of settlements, but it is not available to companies and personal representatives of deceased persons.

Entrepreneurs’ Relief must be claimed, either by the individual or, in the case of trustees of settlements, jointly by the trustees and the qualifying beneficiary. You must make a claim in writing by 31 January, that is one year and 10 months from the end of the tax year in which the qualifying business disposal is made. For a qualifying business disposal in the tax year 2009–10 (ending on 5 April 2010) a claim for Entrepreneurs’ Relief must therefore be made by 31 January 2012. A claim to Entrepreneurs’ Relief may be amended or revoked within the time limit for making a claim.

Husbands, wives, or civil partners are separate individuals and may each make a claim. They are each entitled to Entrepreneurs’ Relief up to the maximum amount available for an individual, provided that they each satisfy the relevant conditions for relief.

How to claim

Ring us on 01792 310110 for an appointment as soon as possible. We will conduct a free review for you to show you the actual savings you can make with this and other tax planning measures.

Sole traders, Partnerships and Ltd Companies welcome

We are based in The Enterprise Zone, Morriston, Swansea and we cover businesses in Swansea, Neath and Port Talbot areas. Abertawe Accountancy Service is a friendly reliable accountancy service at an excellent price. Give us a ring now on 01792 310110 to book your first meeting. We pride ourselves in taking an interest in your business. We not only look after your accounts but can help the business grow with added services such as business advice, protecting your assets, increasing your profits, grants, free staff, marketing, loans and much more besides....

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Abertawe Accountancy Service

The Business Centre, 1-5 Peniel Green Road,

Llansamlet, Swansea. SA7 9AP

Tel Swansea 01792 310110

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İAbertawe Accountancy Service - Accountants in Swansea

Areas Covered : Morriston, Swansea, Birchgrove, Clydach, Port Tennant, Landore, Brynhyfryd, Plasmarl, Tycoch, West Cross, Mumbles, Oxwich Bay, Oxwich, Gower, Bryn Melyn, Neath, Briton Ferry, Cimla, Skewen, Hafod, Sandfields, Port Talbot, Graig.