Entrepreneurs’ Relief

This relief will reduce the chargeable gain on qualifying assets by 4/9, resulting in an effective rate of 10%.  An individual will be able to make claims for disposals on or after 6 April 2008.  Claims may be made on more than one occasion, up to a “lifetime” total of £1 million of gains.

Notes

1. Transfers between husband and wife or civil partners living together are generally exempt, providing both are UK domiciled.
2. Capital gains of all trusts for 2009/10 are taxed at the standard rate of 18%. Where there are several trusts created by the same settlor, the annual exemption is divided equally between them, subject to a minimum exemption of £1,010 (2008/09 £960) for each trust