I’ve been chatting with business owners about the impact of the recent cut to Entrepreneurs’ Relief and there seems to be a common consensus that this was a step too far. Given that it is entrepreneurs who take on the significant risk in setting up and growing a business that might employ 10, 50 or 100+ employees (indirectly taking on the risk of their livelihoods too!), a £10m lifetime gain sheltered with a 10% tax rate provided a fair and reasonable incentive or trade-off.
Back to Basics: Entrepreneurs' Relief
Back to Basics: Entrepreneurs' Relief
Back to Basics: Entrepreneurs' Relief
I’ve been chatting with business owners about the impact of the recent cut to Entrepreneurs’ Relief and there seems to be a common consensus that this was a step too far. Given that it is entrepreneurs who take on the significant risk in setting up and growing a business that might employ 10, 50 or 100+ employees (indirectly taking on the risk of their livelihoods too!), a £10m lifetime gain sheltered with a 10% tax rate provided a fair and reasonable incentive or trade-off.