Earlier this month, the Office of Tax Simplification (OTS) published its first of two reviews of Capital Gains Tax (CGT), outlining four ways in which the tax could be reformed. But we believe these proposals could seriously damage the UK’s startup community, by removing one of the key policies that rewards entrepreneurs (and their employees) for the immense risk they take in starting and scaling a business. Last week, we published our response to the proposals, explaining the ways we believe they threaten the future of UK startups, and quantifying the impact on individuals.
We were overwhelmed with the responses we received to this article, with entrepreneurs, advisors, and industry-leaders alike corroborating our concerns, and offering their help to dissuade the Government from enacting these changes.
With the permission of those who contacted us, we’d like to share some of the comments we’ve received.
Co-founder and CEO
Head of Research and Consultancy