Entrepreneurs tax Relief

[insurance_jon]

Just reading up on this and trying to get my head round it.

Say someone sold a business for £1m. This was 50% up front and 25% in each of years 2 & 3.

Do you have to pay the tax for the whole £1m in one go, or is it as you receive the money?

[insurance_jon]

What if they aren't fixed? Ie room for growth?

[insurance_jon]

L4CON said:

It is possible to apply to pay CGT in instlaments if you are receiving the consideration in instalments, depending on the circumstances.

from what I can see the options are:

1. estimate the total cost for the deal and pay the tax up front so as to get it at 10%
2. Accept that later payments are at a higher rate

[insurance_jon]

Did he make any changes?