By James Austen, partner at Collyer Bristow

Chancellor of the Exchequer Rishi Sunak will deliver his first budget on Wednesday, which will set out any changes to tax policy for the 2020/21 tax year.

The Conservative Party’s General Election manifesto promised to “review and reform” Entrepreneurs Relief due to its high cost to the Exchequer.

Entrepreneurs Relief is currently available to those who work for their own business which they own as a sole trader, a partner in a partnership, or a (5 percent-plus) shareholder in a company.

These requirements must be met for the whole of the two...