Tax-highlights for the current tax year: The annual tax-free personal allowance is now £12,500. The tax reliefs available when you sell - or let - your own home are changing from April 2020. If you are planning on moving out of your main home before you selling it, you may need to consider whether or not you will have any tax to pay; the new rules may increase any tax due. Individuals who pay the Higher Rate of Stamp Duty Land Tax (“SDLT”) because they purchase their new home before selling their old home now have up to 3 years (previously 2 years) to sell their old home and to claim back the additional 3% SDLT. Entrepreneurs' relief (“ER”) is a tax relief available to individuals who sell their business; “ER” reduces the tax payable to 10%. From April 2019 the minimum ownership period to qualify for “ER” increased from 1 year to 2 years. Two new 5% rules were also introduced for individuals selling shares. From 1 January 2019 there was a 2 year temporary increase in the Annual Investment Allowance from £200,000 per year to £1 million per year allowing businesses to claim 100% tax relief for the cost of capital expenditure such as on computers, machines, vans etc.