UK budget provides unexpected boost to entrepreneurs

A budget that would please Alan Sugar?

A budget that would please Alan Sugar?

Entrepreneurs can now claim Capital Gains Tax relief on up to £5m worth of business sales in a lifetime – this is up from £2m in March and £1m only 6 months ago.

Capital Gains Tax will rise less than expected from 18% to 28%, which is what makes the Entrepreneurs relief of just 10% is so attractive.

In addition, to help fast growing SMEs starved of growth funding the government plans to introduce a new Enterprise Capital Growth Fund which will provide more than £37.5 million of equity finance to SMEs. the Enterprise Finance Guarantee is also being increased by £200 million to support additional lending of up to £700 million to for small businesses until the end of March 2011.

And, businesses outside of London and South and East can benefit from no employers national insurance on upto 10 employers.

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