CGT Entrepreneurs’ Relief for trustees

It may be a bit early for the January sales, but the Capital Gains Tax (CGT) price can be slashed by 50% and the rate can be cut from 20% to 10%, if the gain qualifies for Entrepreneurs’ Relief. This relief can be available to trustees. The requirements are firstly, there must be a beneficiary with an interest in possession, and secondly, the beneficiary with an interest in possession must use the trust asset, which the trustees intend to dispose of for the purposes of a trade, profession or vocation, for at least a year.