‘Bonkers’ founders’ relief criticised over rules that could punish startup growth Business John Healey’s flagship tax break for entrepreneurs has been branded “bonkers” by leading economists, who warn its restrictive rules could punish startup growth and encourage founders to make decisions that damage productivity. The new Founders’ Relief offers a 10 per cent capital gains tax rate on up to £10m of lifetime gains, but its complex [...]
Capital gains tax incentive may benefit but ‘disrupt’ professional services sector Prof Services The new capital gains tax incentive Chancellor John Healey unveiled in his Budget may benefit LLP firms in the professional services sector if they qualify, but it also risks disrupting partner dynamics within the firms. Healey announced the so-called ‘Founder’s Relief’ capital gains tax (CGT) incentive in his Budget speech on Wednesday in a bid [...]
Hargreaves Lansdown warns Healey: Don’t ‘penalise investors’ with capital gains hike Investing A leading investment platform is urging chancellor John Healey to not “penalise investors” at the upcoming Budget, as Brits brace for potential tax hikes. Anna Macdonald, investment strategy director at Hargreaves Lansdown, said fresh upheaval to the tax system could discourage investment in the UK at a time when economic growth is needed. In particular, [...]
Jim O’Neill: Capital gains tax hike ‘looms’ as top option for Burnham September 2, 2026 Lord Jim O’Neill has warned a hike to capital gains tax “looms out” as one of the easiest revenue-raising options for Andy Burnham and his chancellor, John Healey, as the pair draw up plans for their first Budget in October. “They’ve ruled out the three main taxes, so if they’re going to have to find [...]
Burnham tax plans spark investor rush to bank capital gains July 2, 2026 Entrepreneurs and savers are rushing to bring forward the sale of their businesses or take profit on investments in anticipation of Andy Burnham’s rumoured plans to fund his ambitious devolution agenda by equalising capital gains tax with income tax. Tax and financial advisers reported a sharp uptick in client enquiries on the likely Prime Minister’s [...]
Bosses scramble to sell shares amid fears of Budget capital gains tax raid October 29, 2024 UK executives have been “racing to sell shares” at a record rate as fears mount that Chancellor Rachel Reeves will raise capital gains tax at tomorrow’s Budget. Last week, directors sold £29.8m of their companies shares, while only buying £4.1m, leaving a net £25.7m of stocks sold. Meanwhile, over the last month, investors have sold [...]
Autumn Budget: Company directors race to dump shares ahead of tax raid October 24, 2024 Fresh analysis has found company directors of listed companies are racing to sell shares ahead of a widely anticipated capital gains tax raid in next week’s Autumn Budget. Between 1 September and 22 October, the value of sell and buy transactions in directors of UK-listed companies in their own firm’s shares was £345.5m and £63m [...]
Reeves to hike tax on UK founders looking to sell October 19, 2024 Chancellor Rachel Reeves is reportedly plotting to hike taxes for entrepreneurs selling their businesses as part of her strategy to plug a £40bn fiscal “black hole”. In her upcoming Budget, Reeves is considering cutting a policy known as the business asset disposal relief, according to Bloomberg. The tax relief currently allows entrepreneurs to pay a [...]
Employee Ownership Trusts surge as entrepreneurs seek tax-friendly exits October 7, 2024 The number of UK businesses transferring ownership to employees through Employee Ownership Trusts (EOTs) as business owners seek to preserve their company's ethos.
Which taxes will Labour hike in the October Budget? September 25, 2024 Kier Starmer has said that those with the "broadest shoulders should bear the heavier burden". So where will Starmer and Reeves turn to raise some extra cash?