TaxPersonal TaxCGT rise could see entrepreneurs sell up

CGT rise could see entrepreneurs sell up

Doubt surrounding whether CGT business asset exemptions will be limited or restricted to certain types of activity could see entrepreneurs flog their companies

Advisers at Ernst & Young have warned the Lib-Con government’s proposed
CGT rise could spark a wave of business sales by entrepreneurs.

David Cameron’s government has said there will be generous capital gains tax
exemptions for entrepreneurs, but has given no detail about whether these
reliefs will be limited in value or restricted to certain types of business
activity.

Andrew Tailby-Faulkes, private client services partner at Ernst & Young,
said:

“Entrepreneurs who are in the process of selling their business, or who are
planning to do so in the near future, may wish to try to get a deal done before
the rate changes happens.

“This level of uncertainty could spark a flurry of corporate disposals in the
short term.”

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