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HMRC internal manual

Capital Gains Manual

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HM Revenue & Customs
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Entrepreneurs’ Relief: calculation: introduction: scope of guidance

The guidance between CG64125 to CG64145 deals with calculation of the amount of the “chargeable gains” after Entrepreneurs’ Relief. The following are covered:

CG64125 Amount of the relief - General TCGA92/S169N
     
CG64130 Amount of the relief - General - Examples  
CG64135 Amount of the relief - General - Held over gains  
CG64136 Amount of the relief - General - Rolled over gains  
CG64140 Special provisions for certain Trust disposals TCGA92/S1690
CG64145 Special provisions for certain associated disposals TCGA92/S169P

Entrepreneurs’ Relief does NOT give a blanket exemption from Capital Gains Tax where the relevant qualifying conditions are met. For disposals made up to 22 June 2010 it acts to reduce the amount of qualifying gains to arrive at “chargeable gains” that are then liable to Capital Gains Tax at the normal rate. For disposals made on or after 23 June 2010 qualifying gains are liable to Capital Gains Tax at an Entrepreneurs’ Relief rate of 10%.