Budget 2021: Capital gains tax lowered for some entrepreneurs

Eligibility loosened for CGT relief, which allows lower rate of tax of 10% on disposals

The move means that entrepreneurs should find it easier to qualify for the Capital Gains Tax Entrepreneur Relief, which gives a reduced rate of CGT of 10 per cent.

The move means that entrepreneurs should find it easier to qualify for the Capital Gains Tax Entrepreneur Relief, which gives a reduced rate of CGT of 10 per cent.

Entrepreneurs who sell all, or part of their businesses, should find it easier to access a lower rate of tax on any gains they make as part of the disposal, thanks to a change in Tuesday’s budget.

The move means that entrepreneurs should find it easier to qualify for the Capital Gains Tax Entrepreneur Relief, which gives a reduced rate of CGT of 10 per cent, compared with a normal rate of 33 per cent, on gains from the disposal of qualifying business assets. A lifetime limit of €1 million remains.

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