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2.199 Capital Gains Tax: Reduction in the Entrepreneurs’ Relief lifetime limit – From 11 March 2020, the lifetime limit on gains eligible for Entrepreneurs’ Relief (which offers a reduced 10% rate of Capital Gains Tax on qualifying disposals) will be reduced from £10 million to £1 million, in response to evidence that it has done little to incentivise entrepreneurial activity and that most of the benefit accrues to a small number of very affluent taxpayers.16 This will help ensure that the tax system is fair and sustainable while leaving over 80% of those using the relief unaffected.17 (46)
Sadly I'm not likely to be in a position where the £1M limit is likely to be an issue but this isn't fair. Biases the old who have already had a chance to claim it. They should have pro-rata'd the limit going forward depending on peoples ages.
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