Startups need tax breaks
New report calls for startup tax breaks
New small businesses should be given a tax break for the first couple of
years of their existence, according to a new report.
The British Library’s
Business & IP Centre has called on a tax break for startup
small business, as part of ten core recommendations to encourage
entrepreneurialism, reported the BBC.
Former Dragons’ Den panelist Doug Richard said tax relief was vital to
“If the government is serious about encouraging enterprise in the UK, then
they need to avoid gimmicks like the VAT cut, and offer start-ups a genuine
exemption from tax until they get their businesses up and running.”