Taxed at 10%
Last Chance!
Don’t roll the dice with your capital.
What Happened?
On 30th October 2024 the Chancellor of the Exchequer, Rachel Reeves, confirmed major increases to taxation that will have significant implications for all business owners.
As well as the increase in Employer’s National Insurance Contributions from 13.8% to 15%, the recent reduction in dividend allowances and the impending new “Employment Rights Bill”, the tax on selling or extracting your capital when retiring is also set to increase.
It gets worse…and worse…
From 6th April 2025, the tax relief available for business owners will reduce thereby increasing the effective tax rate of 10% to 14% on the first £1,000,000 of sale proceeds. This will increase again to 18% from 6th April 2026.
In short, this is the last chance to sell your business and pay only 10% tax on the sale proceeds for many years to come.
But you still have a little time.
We would very much like to reopen our discussions with you and try to adapt our acquisition offer with a view to helping you extract your capital before these tax rates bite.
And you have options.
If you are not ready to retire but still want to extract your capital, please speak to us about our Shilling “Sell & Stay” option where we acquire 75% of your business but you stay and run it for us as our partner.
If you do decide that now is the time to extract your capital, please do call us as a matter of some urgency so we can try to beat the taxman.
