Policy paper

Change to the Entrepreneurs' Relief lifetime limit for Capital Gains Tax

This measure introduces a reduction in the Entrepreneurs' Relief lifetime limit.

• From: HM Revenue & Customs
• Published: 11 March 2020

Documents

Capital Gains Tax Entrepreneurs’ Relief - reduction in the lifetime limit

HTML

Draft legislation

PDF, 70.7 KB, 4 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Explanatory note

PDF, 208 KB, 3 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Details

The Entrepreneurs’ Relief lifetime limit is reduced from £10 million to £1 million. This will apply to qualifying disposals made on or after 11 March 2020 and to certain disposals made before 11 March 2020.

Since Budget Day, this measure has been revised to:

• include an additional anti-forestalling rule
• rename the relief ‘Business Asset Disposal Relief’ for tax years 2020-21 onwards

The revised legislation is included in the Finance Bill published on 19 March 2020.

Further details on the anti-forestalling rules can be found in the technical note for this measure.

Published 11 March 2020