Business News
Small firms don't understand Capital Gains Tax
More than a quarter of small business owners don't understand that they may attract Capital Gains Tax (CGT) if they transfer business assets to another individual or business. A study by law firm Thomas Eggar revealed that 26% of respondents were unaware of how the CGT system works, or about the tax relief available to help small firms deal with their tax burden. For more on the study, and a definition of what constitutes a business asset, see: www.thomaseggar.com/press-archive