BizSale Small Business Blog. Small businesses for sale.

Alistair Darling, the UK chancellor has finally made up his mind on the new capital gains tax regime due to take effect after April 5th this year, and announced a major concession for owners of small businesses.

Any business owner making a profit of one million pounds or less on the sale of his or her business will only be liable for CGT at 10%, rather than at the previously proposed rate of 18%. The 18% rate will apply to all gains above the million pound mark, however.

For once, it seems the Chancellor has actually listened to some of the business community. Business groups were united in their dismay at the proposed tax changes. Although many medium to large businesses are not so impressed with today’s announcement, many small business owners are breathing a sigh of relief.

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