Startups boost HMRC's capital gains by £12bn
BRITISH entrepreneurs made over £108bn from selling their businesses in the past five years as UK entrepreneurship thrived, according to research released today by law firm Boodle Hatfield.
The sales generated £12.2bn in capital gains tax over the period, an average of £2.4bn a year. The figures relate to transactions which qualified for reduced taxation as a result of the entrepreneurs' tax relief.
Entrepreneurs' relief allows the seller of a business to pay tax at a reduced rate...