With the General Election fast approaching, changes to Entrepreneurs Relief is the latest proposed tax reform set out in leading parties' manifestos.
Entrepreneurs Relief (ER) is a capital gains tax relief when you sell all or part of your business and means that you’ll pay tax at 10% on all gains on qualifying assets when certain conditions are met.
The Conservative party has promised to 'review and reform ER but have not set out the specific details or timescales'. The Labour Party have promised to abolish the relief for business owners completely. The Liberal Democrats, meanwhile, have not specifically addressed ER in their manifesto but have outlined many other tax changes.
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