Entrepreneurs' Relief On The Chopping Block

Having promised vaguely to ‘review and reform’ entrepreneurs’ relief (‘ER’) in their election manifesto, the Conservatives now look increasingly likely to scrap the relief altogether. In a recent statement reported by The Times, Boris Johnson said the Treasury was ‘fulminating’ against the relief, leading to widespread speculation that it will be abolished in the coming Budget on 11 March, with the change potentially being effective from that date. Whether the analysis of the ineffectiveness of the relief in achieving its stated aim of stimulating entrepreneurial activity is right or wrong, those taxpayers holding on to accrued gains which could benefit from ER should review their position now in anticipation of losing access the relief altogether.