Preparing to Close Your Business and Claim BADR
Are you thinking of winding down your business? You may be eligible for BADR. Business Asset Disposal Relief (BADR) was previously called Entrepreneurs’ Relief, and is intended to help you reduce the rate of tax paid on the disposal (sale) of ‘qualifying business assets’ for higher and additional rate taxpayers. BADR is applicable only to individuals and trustees, so disposals by companies will not qualify for relief. It is also only for qualifying disposals of business assets – not the disposal of investment or non-business assets. Since the Autumn budget last year, there have been some changes to CGT and [...]