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"Previously, a deduction was given against the gain, which reduced the amount of gain subject to tax. The gain was then taxed at the then Capital Gains Tax rate of 18 per cent. This gave an 'effective' tax rate of ten per cent of the actual gain.
The June 2010 Budget introduced an 'actual' ten per cent rate of tax, which is applied to the gain qualifying for Entrepreneurs' Relief. While for many this change will not make a difference, for some it can have a significant effect:"
The June 2010 Budget introduced an 'actual' ten per cent rate of tax, which is applied to the gain qualifying for Entrepreneurs' Relief. While for many this change will not make a difference, for some it can have a significant effect:"
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