If you own your own business or are a major shareholder in it (owning more than 5% of the shares) or have shares in a qualifying share option plan such as an Enterprise Management Incentive scheme (EMI), then you may qualify for entrepreneur’s relief if you sell your business. This keeps CGT to a special rate of only 10% on the first £10m of any gains you make when you sell your business. This £10m limit is a lifetime allowance, so if you sell many businesses at different times during your life, once you exceed the £10m allowance you will pay CGT at the higher rate (28%).
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