Many commentators struggled to find anything to say about the recent Autumn statement, at least in so far as business is concerned. Deal makers who are currently mid- deal held their breath , suspecting a reduction to the availability of entrepreneurs relief, but no, the Chancellor left it alone. As such the highly valuable 10% rate of tax on sale proceeds for most companies remains in tact and a great incentive to invest in and grow your own company. It also preserves the value of many EMI Option shares and ESS schemes
There were rumours that the popular Entrepreneurs Relief was destined for the scrap heap. This scheme allows business owners to apply for tax relief on a lifetime allowance of up to £10m. It can save entrepreneurs up to £1.8m of capital gains tax on a £10m disposal of shares in a qualifying business.