Brexit & EconomyPoliticsBudget 08: Darling raises funds for small businesses

Budget 08: Darling raises funds for small businesses

Entrepeneurs given boost as Darling widens reliefs and funding, but non-movement on CGT takes the shine off

Small businesses have been given a partial boost by the Chancellor.

The income tax relief threshold on investments is raised by 25% to £500,000
from £400,000. The employee share limit for tax relief under the Enterprise
Management Incentive scheme will also increase from £100,000 to £120,000.

Despite the boost, entrepeneurs will still pay a flat rate of 18% on capital
gains. Only those with more than a 5% stake in a company will qualify for the
entrepreneurs’ relief of a 10% tax rate on the first £1m of business asset
gains.

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