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Will the capital gains tax changes from April 2008 take the pressure off advisers? JOHN ENDACOTT suggests that entrepreneurs' relief will mean opportunities and pitfalls
KEY POINTS
- The pre and post-April 2008 liabilities
- Reconciling the liability increases
- Which shareholders will qualify for the relief?
- Watch out for associated disposal changes
- Legislative changes need to be understood
It has been an extremely busy few months for capital gains tax (CGT) advice (I have felt that I was under siege) and I am sure that many readers will like me be relieved that 5 April 2008 is now past.
Since the Pre-Budget Report last October the focus has been on helping clients to make the most of business asset taper relief (BATR) and any entitlement to indexation allowance.
However that is all now history. It is now necessary to turn one's attention to advising clients on how to make the most of the new regime...
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