When Alistair Darling increased the base rate of capital gains tax for most business owners from 10 to 18 per cent last year, the chancellor sent dozens of accountants scurrying to figure out ways around it.

The option chosen by many bosses – including Linda Bennett, owner of the LK Bennett shoe store chain, and Will Chase, potato farmer and founder of the Tyrrells premium crispmaker – was to warehouse their company in a trust. This crystallised the lower tax rate before the April 5 deadline in anticipation of a sale later in the year.