{"id":1062,"date":"2021-12-10T00:00:00","date_gmt":"2021-12-10T00:00:00","guid":{"rendered":"https:\/\/www.simplybusiness.co.uk\/knowledge\/articles\/do-i-qualify-for-business-asset-disposal-relief\/"},"modified":"2025-05-22T13:17:31","modified_gmt":"2025-05-22T13:17:31","slug":"do-i-qualify-for-business-asset-disposal-relief","status":"publish","type":"knowledge","link":"https:\/\/www.simplybusiness.co.uk\/knowledge\/business-tax\/do-i-qualify-for-business-asset-disposal-relief\/","title":{"rendered":"Do I qualify for business asset disposal relief?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">When you sell (or dispose of) all or part of your business, you may be able to pay less capital gains tax. This is known as business asset disposal relief.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Perhaps you\u2019re considering selling your limited company to fund your <a href=\"\/knowledge\/management\/retirement-age-uk\/\" data-type=\"knowledge\" data-id=\"1503\" >retirement<\/a> or because you\u2019re facing challenges with <a href=\"\/knowledge\/business-tax\/what-is-ir35\/\" data-type=\"knowledge\" data-id=\"1579\" >IR35 rules<\/a>. Read on to find out if you qualify for business asset disposal relief and save money on your tax bill.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"wp-block-list-item\"><a href=\"\/knowledge\/business-news\/autumn-statement-2023-what-it-means-for-small-businesses\/\" data-type=\"knowledge\" data-id=\"1327\" ><strong>Autumn Budget: what was announced for small businesses?<\/strong><\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"\/knowledge\/business-tax\/what-happens-if-im-inside-ir35\/\" data-type=\"knowledge\" data-id=\"1563\" ><strong>What does being inside IR35 mean? A guide for the self-employed<\/strong><\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"\/knowledge\/funding\/what-is-equity-in-business\/\" data-type=\"knowledge\" data-id=\"1061\" ><strong>What is equity in business?<\/strong><\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"\/business-insurance\/faq\/what-does-professional-indemnity-insurance-cover\/\"><strong>What does professional indemnity insurance cover?<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"whatisbusinessassetdisposalrelief\">What is business asset disposal relief?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Business asset disposal relief is the amount of <a href=\"\/knowledge\/business-tax\/capital-gains-tax\/\" data-type=\"knowledge\" data-id=\"1361\" >capital gains tax<\/a> you have to pay when selling a business. Bear in mind, this can also include any gains you get from swapping, gifting, or compensation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This relief was previously known as \u2018entrepreneurs\u2019 relief\u2019 but was changed by the government on 6 April 2020 in a bid to raise money for other spending pledges. These entrepreneurs\u2019 relief changes mean sellers now pay 10 per cent on lifetime gains of <strong>up to \u00a31 million<\/strong> rather than the previous limit of \u00a310 million in a lifetime.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"howdoesbusinessassetdisposalreliefwork\">How does business asset disposal relief work?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The relief provides a discounted rate of capital gains tax, which means you\u2019ll pay 10 per cent on all gains on qualifying assets (rather than the standard 20 per cent for higher rate and additional tax payers).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To be eligible for the relief, you must have owned your business for <strong>at least two years<\/strong> and be a <a href=\"\/knowledge\/starting-out\/sole-trader-vs-limited-company\/\" data-type=\"knowledge\" data-id=\"1532\" >sole trader or business partner<\/a>.<\/p>\n\n\n\n<div id=\"nba-body-001\">\n<\/div>\n\n<h3 class=\"wp-block-heading\" id=\"howmuchdoyoupay\">How much do you pay?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If all your gains qualify for business asset disposal relief:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li class=\"wp-block-list-item\">Work out your gain on qualifying assets (difference between what you paid for your business and what you sold it for)<\/li>\n\n\n\n<li class=\"wp-block-list-item\">Add together the gains (and deduct qualifying losses)<\/li>\n\n\n\n<li class=\"wp-block-list-item\">Deduct your tax-free allowance (\u00a312,300 or \u00a36,150 for trusts)<\/li>\n\n\n\n<li class=\"wp-block-list-item\">Pay 10 per cent tax on what\u2019s left<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">You\u2019ll claim the relief when you file your <a href=\"\/knowledge\/business-tax\/self-employed-tax-changes\/\" data-type=\"knowledge\" data-id=\"1514\" >Self Assessment tax return<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"businessassetdisposalrelieflimit\">Business asset disposal relief limit<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You can claim a total of \u00a31 million in business asset disposal relief in your lifetime. For anything over this amount, sellers will be charged the standard capital gains tax rate of 20 per cent.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The limit is based on how much you can claim as an individual, rather than for each business you sell.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"howelsecanyouclaimbusinessassetdisposalrelief\">How else can you claim business asset disposal relief?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">As well as if you sell your business, you can claim business asset disposal relief if:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"wp-block-list-item\"><strong>you\u2019re closing your business<\/strong> \u2013 and sell assets from it within three years of closing it down. Read more about <a href=\"\/knowledge\/management\/how-to-liquidate-a-company\/\" data-type=\"knowledge\" data-id=\"933\" >how to wind up a company<\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><strong>you\u2019re selling shares or securities<\/strong> \u2013 and you control at least five per cent of the business\u2019s shares, voting rights, and assets<\/li>\n\n\n\n<li class=\"wp-block-list-item\"><strong>you\u2019re selling shares from an <\/strong><a href=\"https:\/\/www.gov.uk\/tax-employee-share-schemes\/enterprise-management-incentives-emis\" rel=\"noopener noreferrer\" target=\"_blank\"><strong>enterprise management incentive<\/strong><\/a> \u2013 and you bought the shares after 5 April 2013 and were given the option to buy them at least two years before selling them<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"whatifidontqualify\">What if I don\u2019t qualify?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If you don\u2019t qualify for this relief, you\u2019ll need to work out the total taxable gains you\u2019ll get when you sell your business.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Our <a href=\"\/knowledge\/business-tax\/capital-gains-tax\/\" data-type=\"knowledge\" data-id=\"1361\" >complete guide to capital gains tax<\/a> has more information on the different tax rates and how to work out what you\u2019ll need to pay.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Landlords should note that the sale of property doesn\u2019t qualify for this relief, unless it\u2019s a <strong>furnished holiday lettings business<\/strong> in the UK or European Economic Area. If you\u2019re a landlord with a property portfolio, you can find out more about <a href=\"\/knowledge\/landlord-tax\/tax-on-rental-income\/\" data-type=\"knowledge\" data-id=\"1545\" >filing a landlord tax return<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Find out more:<\/strong> our <a href=\"\/knowledge\/business-tax\/self-employed-tax-changes\/\" data-type=\"knowledge\" data-id=\"1514\" >tax and Self Assessment resource<\/a> has a range of tips and guides to help you run your small business.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As tax is a complicated subject, please use this as a guide only and speak to a professional about your individual circumstances. You can also find out more on the <a href=\"https:\/\/www.gov.uk\/business-asset-disposal-relief\" rel=\"noopener noreferrer\" target=\"_blank\">UK government website<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Do you want to know anything else about business asset disposal relief? Let us know in the comments and we\u2019ll do our best to help.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Photograph 1: Drazen\/stock.adobe.com<\/p>\n\n\n\n<div class=\"wp-block-group has-azure-200-background-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-94e519ba wp-block-group-is-layout-constrained\" style=\"padding-top:var(--wp--preset--spacing--80);padding-right:var(--wp--preset--spacing--40);padding-bottom:var(--wp--preset--spacing--80);padding-left:var(--wp--preset--spacing--40)\">\n<h3 class=\"wp-block-heading has-text-align-center\" id=\"readytosetupyourcover\">Ready to set up your cover?<\/h3>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">As one of the UK&#8217;s biggest <a href=\"\/business-insurance\/\" data-type=\"page\" data-id=\"5152\" >business insurance<\/a> providers, we specialise in <a href=\"\/business-insurance\/public-liability-insurance\/\">public liability insurance<\/a> and protect more trades than anybody else. Why not take a look now and build a quick, tailored quote?<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/quote.simplybusiness.co.uk\/business\">Start your quote<\/a><\/div>\n<\/div>\n<\/div>\n\n<div id=\"nba-body-end\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>If you\u2019re selling part or all of your business, you may be able to pay less capital gains tax. Find if you qualify for business disposal asset relief.<\/p>\n","protected":false},"author":3,"featured_media":3867,"comment_status":"open","ping_status":"closed","template":"","meta":{"sb_hreflang":"","sb_hreflang_url":"","disable_breadcrumbs":false,"sb_breadcrumbs":[],"sb_reviewed_by":"","sb_review_date":"","sb_enable_content_gating":true,"footnotes":""},"categories":[336,344,110],"hidden-category":[],"coauthors":[25],"class_list":["post-1062","knowledge","type-knowledge","status-publish","has-post-thumbnail","hentry","category-business-structure","category-business-tax","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Business asset disposal relief | Small business guide<\/title>\n<meta name=\"description\" content=\"If you\u2019re selling part or all of your business, you may be able to pay less capital gains tax. Find if you qualify for business disposal asset relief.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.simplybusiness.co.uk\/knowledge\/business-tax\/do-i-qualify-for-business-asset-disposal-relief\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A simple guide to business asset disposal relief\" \/>\n<meta property=\"og:description\" content=\"Are you intending to sell all or part of your business? 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