Capital Gains Tax Relief for Entrepreneurs Doubled to £2mn Posted In: Business Start-up and Growth, CFO / FD 24 Mar 2010

Capital Gains Tax Relief has been doubled to £2mn for business owners.  This is a one off relief and is a one off.  So if you sell one business or many businesses you will be taxed on your gains at 18% except for the first £2mn gain. 

For the first £2mn gain you will pay 10% and that is doubled in this budget from the previous limit of £1mn.  If you are fortunate enough to have gains in this region – that is tax saving of £80,000.  Very nice.