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What I never had

Apr 18, 2008, 10:19 AM
Authors : Allison
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Post date : Apr 18, 2008, 10:19 AM
A business owner acquaintance is in the process of selling her business for a goodly sum.
Shortly before 5 April 2008, I asked her how it was going and said that I hoped it would be completed before the new capital gains tax regime kicked in.
But she wasn’t bothered.
What I’ve never had I’ll not miss, she said, and I am not exactly going to be poor after selling up.
What a refreshing attitude, after all the hullabaloo surrounding the new capital gains tax regime and how owners of companies would have to pay more tax when they sold up (for millions anyway) because of the demise of taper relief.
As we all know, the Government caved in and introduced entrepreneurs’ relief as a sop, so my acquaintance will probably be all right taxwise, regardless of her philosophy.

But I get the impression that the substantial profit that my acquaintance stands to make would have been enough without the tax break.

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