Press
Government recognises the valuable role of entrepreneurs
Responding to George Osborne’s budget, Joel Hagan, founder and chief executive of Onzo, welcomed the extended capital gains tax relief for entrepreneurs.
“I am pleased that the Government has listened to the business community’s concerns about capital gains tax and recognised the vital role that entrepreneurs play in this country’s economic future.
“The UK needs entrepreneurs because they are willing to take the financial risks that most people would never dream of taking. They put everything they have at risk to create wealth – their own and others’. They build businesses that create jobs, stimulate the economy, and ensure UK plc is globally competitive. Most entrepreneurs would be unwilling to take those risks if they believed that there wasn’t a return commensurate with the risk, in other words if returns were taxed at the same level as income generally.”
Mr Osborne announced today that the 10% CGT rate for entrepreneurs will be extended to cover the first £5m of life time gains.
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For more information on the Emergency Budget June 22nd 2010 click here.
