If you are contemplating selling your business get in touch with SMH Chartered Accountants as you simply cannot afford to miss out on Entrepreneurs Relief (ER), not when it can reduce the tax rate payable from 28% to just 10% and thereby enables you to keep 18% more of the gains you make!
Briefly, the relief is available to:
Sole traders and partners who sell the whole or part of their businesses.
Company directors and employees who sell a ‘material stake’ in a ‘qualifying company’. A ‘material stake’ means that the shareholder works for the company, owns at least 5% of the share capital and is able to exercise at least 5% of the voting rights
Company directors and employees who acquired shares under an EMI option
If you are thinking of selling up, either now or sometime in the future, come and talk to our experts and get proper advice.