Six in 10 UK business owners would be discouraged from founding a new company if John Healey, the chancellor, raises capital gains tax (CGT) in next month’s budget, according to a survey commissioned by S&W, the professional services group.
The survey of 500 business owners, carried out by the research consultancy Censuswide, also found that half would consider leaving the UK if the tax was raised in the budget on 28 October.
Higher and additional rate taxpayers currently pay 24 per cent CGT on their gains, according to government guidance.
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