Posts Tagged ‘Budget’
There were some joyous early reactions to today’s budget particularly on the lunchtime news when Dragon’s Den’s Deborah Meadon among others got excited by the Chancellor’s tax windfall for VCs and how she could now take more risks with early stage companies… but exactly how much risk will business angels and VCs now take?
The government are hoping to close up any loopholes that allow wealthy investors to take advantage of tax breaks while also launching the most pro-growth Budget for a generation – can they pull it off?
The Office of Tax Simplification will be reviewing all tax reliefs and allowances ahead of this year’s budget. The Enterprise Investment Scheme will be one of those tax reliefs under the microscope – but as investment through the scheme has slumped, the real question is, will it be missed?
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.