Entrepreneur relief

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January 27, 2020 at 9:14 pm #560010

anubhutityagi
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A self employed has received an offer to buy her business from unconnected party for £200,000, to be received in cash. The only chargeable asset is business goodwill and the value has increased to £150,000 over the years. The goodwill has nil cost. In such cost what will be the capital gain amount for entrepreneur relief?

January 28, 2020 at 11:03 am #560045

Tax Tutor
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A normal calculation – sale proceeds are £150,000 and cost is nil – therefore the gain is £150,000.
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