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19 November 2024 | Anderson Moore

How the recent budget announcements may affect your business sale.

In her budget, the chancellor increased capital gains tax rates considerably and with almost immediate effect.

What has slipped slightly under the radar is the increase in Business Asset Disposal Relief (BADR) which won't take effect until next April. This means that for the first £1m of any business sale or disposal the current BADR rate of 10% applies until April 2025, and thereafter will increase to 14% and again to 18% in April 2026.

Whilst tax considerations alone should not drive your decision to sell your business, it is worth noting that even if you have something quite modest, selling at (say) £100,000, you will have an extra £4k to pay in tax next April. Now may be the time to contact me, Keith Green at Anderson Moore to discuss the sale of your SME business.

Other Press Releases from Anderson Moore

12/3/2025 - It is what it is. It's worth what someone is prepared to pay.
17/1/2025 - Do you need a Business Valuation? We are often asked to provide formal valuations for purposes other than a proposed sale.
23/10/2024 - Market Improving for SME Business Sales The recent reduction in interest rates, the perceived direction of the economy, and the post-election stability means that more SME business owners are placing their businesses up for sale.
29/8/2024 - What is your business worth?
15/1/2024 - That''s the way to do it.