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CGT: a new reason for letting go

Stephen Chater explores capital ?gains tax changes, what’s involved ?in setting up an employee ownership trust and considerations a financial adviser would wish to raise with their client

4 July 2014

Do you have any clients who would like to pay 0 per cent capital gains tax on selling their business, using a new statutory tax relief? If so, read on, because the government
is introducing such a rate for certain types of business disposals (after 6 April 2014).

Two new tax reliefs in the Finance Bill 2014 are designed to encourage and support the creation and growth of employee-owned companies. These are likely to be of particular interest to businesses whose owners are considering retirement and are grappling with succession issues.

The emotional connection with
a business built up over many years could mean that selling to a third party has limited attractions. Disposing of the business to employees who have been involved in its development and who
are more likely to share the same values and vision may have greater ap...

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