Fw: Capital Gains Tax - Entrepreneurs' Relief

This email has been sent from KPMG LLP, a UK limited liability partnership (which is a subsidiary of KPMG Europe LLP),

from KPMG Europe LLP, from one of the companies within KPMG LLPs control (which include KPMG Audit Plc,

KPMG United Kingdom Plc and KPMG UK Limited) or from KPMG Resource Centre Private Limited, together "KPMG".

KPMG Europe LLP does not provide services to clients. None of KPMG Europe LLPs subsidiaries have any authority to obligate

or bind KPMG Europe LLP. This email is confidential and may be legally privileged. It is intended solely for the addressee.

Access to this email by anyone else is unauthorised. If you are not the addressee or an intended recipient or have not

agreed with us the terms on which you are receiving this email any disclosure, copying, distribution or any action

taken or omitted to be taken in reliance on the contents of this email or its attachments, is at your own risk,prohibited

and may be unlawful, and to the fullest extent permitted by law KPMG accepts no responsibility or liability to you.

When addressed to our clients any opinions or advice contained in this email or its attachments are subject to the terms and

conditions expressed in the governing KPMG client engagement letter. Anything in this email or its attachments which

does not relate to KPMG's official business is neither given nor endorsed by KPMG.



KPMG Europe LLP, registered in England No 0C324045

Registered office: 8 Salisbury Square, London EC4Y 8BB



KPMG United Kingdom PLC, registered in England No 03513178

Registered office: 8 Salisbury Square, London EC4Y 8BB



KPMG UK Limited, registered in England No 3580549

Registered office: Aquis Court, 31 Fishpool Street, St Albans AL3 4RF



KPMG LLP, registered in England No 0C301540

Registered office: 8 Salisbury Square, London, EC4Y 8BB



KPMG Audit Plc, registered in England No 3110745

Registered office: 8 Salisbury Square, London EC4Y 8BB

------------------

-----Original Message-----
From: Lowdon Katie <Katie.Lowdon@KPMG.co.uk>
Date: Mon, 28 Jun 2010 15:03:05
Subject: Capital Gains Tax - Entrepreneurs' Relief

___________________
Announcement

KPMG LLP (UK)

___________________

KPMG - Audit Tax Advisory <http://www.kpmg.co.uk/email/GlobalTemplates/Screen_580x78.jpg>
KPMG - Audit Tax Advisory <http://www.kpmg.co.uk/email/GlobalTemplates/Print_580x78.jpg>



Capital Gains Tax - Entrepreneurs' Relief 

28 June 2010

As anticipated, the marginal rate of Capital Gains Tax ("CGT") was increased in the Emergency Budget to 28% (from 18%) but the Chancellor also announced a significant increase to one of the key CGT reliefs, Entrepreneurs' Relief. This is already a major talking point within the entrepreneur and family business communities.

What is Entrepreneurs' Relief?

Entrepreneurs' Relief was introduced in April 2008 and enables qualifying gains to benefit from a reduced rate of CGT of 10%. Each taxpayer has a lifetime limit on gains which can qualify for Entrepreneurs' Relief and, with effect from 23 June 2010, this limit was increased from £2 million to £5 million. Following the increase, this relief has now become very valuable and can result in a tax saving of up to £900,000 per individual.

Please find attached a flyer containing more details about Entrepreneurs' Relief.

Why should clients take advice now?

-    Not everyone will qualify for this relief - shareholders who have less than
     5% shareholding can do planning to improve their position
-    With the right advice businesses and shareholdings can be structured in
     such a way as to maximise the availability of Entrepreneurs' Relief.

If you have any queries or are interested in discussing the planning opportunities available please do not hesitate to contact us.

Contacts

Jodie Barwick-Bell
Manager
0191 401 3840
jodie.barwick-bell@kpmg.co.uk <mailto:jodie.barwick-bell@kpmg.co.uk>

Graeme Whitfield
Manager
0191 401 3732
graeme.whitfield@kpmg.co.uk <mailto:graeme.whitfield@kpmg.co.uk>

 


© KPMG LLP, a UK limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
KPMG LLP, Quayside House 110 Quayside Newcastle upon Tyne NE1 3DX
Designed and produced by UK Design Services.
.