I'm after some clarification on the Entrepreneurs Relief Calculation for 2011/12.
I've claimed this before and the calculation involved deducting 4/9 of the capital as Entrepreneurs Relief, then deducting one's personal yearly allowance ... with the remainder being subject to CGT at the normal rate (18% then). However, some searches indicate that for 2012, assuming no other capital gains liabilities, then it is just a straight (capital - 10600) * 10%.
I've seen the 4/9 calculation on this forum, but this was from 2008 so my guess is that this calculation is out of date and it is now just a straight 10% after deducting 10600 from the qualifying capital. Would appreciate some definite confirmation though before I complete my PTR.
Thanks
I've claimed this before and the calculation involved deducting 4/9 of the capital as Entrepreneurs Relief, then deducting one's personal yearly allowance ... with the remainder being subject to CGT at the normal rate (18% then). However, some searches indicate that for 2012, assuming no other capital gains liabilities, then it is just a straight (capital - 10600) * 10%.
I've seen the 4/9 calculation on this forum, but this was from 2008 so my guess is that this calculation is out of date and it is now just a straight 10% after deducting 10600 from the qualifying capital. Would appreciate some definite confirmation though before I complete my PTR.
Thanks
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