From the course: Understanding UK Business Finance and Tax

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Business asset disposal relief and business asset rollover relief

Business asset disposal relief and business asset rollover relief

From the course: Understanding UK Business Finance and Tax

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Business asset disposal relief and business asset rollover relief

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Business Asset Disposal Relief has changed its name a few times over the years. In the past, it's being called Entrepreneur's Relief or Business Asset Taper Relief, and its name has evolved to reflect the government's efforts to foster and encourage entrepreneurship and growth in this area within the U.K. In this video, I will explain both Business Asset Disposal Relief and Business Asset Rollover Relief. Business Asset Disposal Relief is available to anyone that sells all or part of their business. At the time of recording in October 2023, the owners of the business pay a lower rate of 10% on the gain rather than the usual capital gains tax rates. This is as long as they have owned the business for at least two years before the sale of the business. Business Asset Disposal Relief is also available to people that have sold shares in what are known as personal companies. This is where the person worked for the company as an employee or an officer, such as a director or company…

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