Chancellor John Healey today announced a new capital gains tax relief for business founders, charging 10 per cent on lifetime gains of up to £10m, while halving the lifetime limit for Business Asset Disposal Relief (BADR) from £1m to £500,000.
Healey told MPs the Founders Relief was intended for “the founders of our most successful firms”.
“I believe that when business founders take that risk, build an exceptional company, create wealth for Britain, we should recognise that success and keep those people here to invest again,” he said.
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