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What is Entrepreneurs’ Relief?

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Understanding Entrepreneurs' Relief


Written by Jonathan Munnery

Entrepreneurs’ Relief is a valuable tax relief scheme which reduces your liability for capital gains tax (CGT). When Entrepreneurs’ Relief is used, CGT is reduced to an effective rate of just 10%; this is what makes extracting the proceeds of a company by way of an MVL so appealing.

Entrepreneurs’ Relief is subject to a lifetime limit of £1m per individual although there is no limit to the amount of businesses you can sell while utilising Entrepreneurs’ Relief, so long as the £1m worth of capital gains is no exceeded. In order to qualify, you must have held a minimum shareholding of 5% for at least two years from the time the company enters liquidation.

Although nobody goes into business expecting their company to fail, UK Liquidators were supportive and helpful through the whole liquidation process, and I would have no hesitation recommending them to others in the same position.
Paul Winter
|
Director
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At UK Liquidators, our service is fully partner-led and your case will always be overseen by a fully licensed insolvency practitioner.

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Common Liquidation Questions
What is a Members’ Voluntary Liquidation?

A Members’ Voluntary Liquidation – or MVL – is a formal liquidation process designed as a way for solvent companies to wind down their operations.

Difference between an MVL and Dissolution

An MVL is a formal liquidation process which must be undertaken with a licensed insolvency practitioner.

Difference between an MVL and a CVL

MVLs and CVLs are both formal liquidation processes, however, there is a key difference.

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If you are considering liquidation for your company, taking expert advice at an early stage is crucial. At UK Liquidators, our team of licensed insolvency practitioners are committed to providing limited company directors with the help and advice they need to make an informed decision.

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