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  • Tax - Entrepreneurs' relief checklist
    Entrepreneurs' relief checklistWhen you sell or transfer all or part of your business you might be entitled to claim entrepreneurs' relief in respect of any capital gain you make. This means that the maximum rate of tax that will apply will be 10%. However, to qualify there are conditions that you and your business must meet.When is relief available?Entrepreneurs' relief (ER) is available for qualifying business disposals. The relief imposes a lower rate of capital gains tax (10%) than the top standard rate...
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  • Tax - Claim for a capital loss for repayment of a loan as guarantor
    Claim for payment under a guaranteeOne way of helping a growing business is to act as guarantor to its loan finance. If things don't turn out as planned and you are called upon to make good some or all of the loan, you may be able to make a claim to treat this as a capital loss.Capital losses - payment under a guaranteeRather than lending it money, you may have helped a business by giving a guarantee on a business loan. For example, if you're a company director you may have had to give personal guarantees in...
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  • Tax - CGT rollover relief claim
    CGT rollover relief claim When you've sold an asset that was used in your business, and this results in a capital gain, it's possible to defer or even avoid tax on this by claiming rollover relief. Selling a business assetCapital gains tax (CGT) applies to profit you make when you sell a business asset. If this results in a CGT bill you have the option to make a CGT Rollover Relief Claim to roll over the gain into the purchase of another business asset and so defer payment of tax.Qualifying assetsRollover relief...
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