From the 2010 starting point of £1,000,000 the 2011 budget has increased the lifetime limit for Capital Gains Tax Entrepreneurs Relief to £10,000,000.
Given the increasing age of Farmers / Landowners this relief can materially reduce the impact of taxation, for instance, on a retirement sale or gift to the next generation. However Entrepreneurs Relief can be a tricky relief to apply (we need to demonstrate a complete disposal of a business) and there is little case law at present on its application. Nevertheless, this is indeed a worthwhile increase in its parameters that may make the decision to sell that much easier?