Business Asset Disposal Relief was known as Entrepreneurs’ Relief until 6th April 2020. It is a type of tax relief which directors can benefit from when they are selling or business or closing down their solvent company with the Members’ Voluntary Liquidation process. The government introduced the Relief as a way of encouraging business owners…
Read MoreBusiness Asset Disposal Relief (known as Entrepreneurs’ Relief until 6 April 2020) is a form of tax relief that can save directors and shareholders who are selling or closing their solvent company a small fortune on their tax bill. The government introduced Business Asset Disposal Relief to encourage entrepreneurs to set up a business, build…
Read MoreMany company directors reach the decision to sell or close their business, whether it’s due to retirement or relocating abroad. Whatever the reason, there can be many tax advantages to closing or selling your business if it qualifies for Business Asset Disposal Relief which can save you a small fortune on your tax bill. If…
Read MoreA few months ago what was known as Entrepreneurs’ Relief was re-named Business Asset Disposal Relief. Many people are still uncertain about what this HMRC-approved tax relief for company shareholders is and whether they are eligible to claim it. What changed with ‘business asset disposal relief’? Entrepreneurs’ Relief was a tax relief available to shareholders…
Read MoreThe term Entrepreneurs’ relief (ER) has recently been changed to ‘Business Asset Disposal Relief’. What has changed? Business Asset Disposal Relief – still known by many as Entrepreneurs’ relief (ER) – is an HMRC-approved tax relief for company shareholders. Since the 2020 Budget, it has undergone some changes, along with the new name. Previously, business…
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