Sigh of relief for UK tech founders as Labour hikes capital gains tax by less than feared [CNBC]
Dun & Bradstreet Holdings, Inc. (DNB)
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Source: CNBC
Reeves' plans had caused angst among tech founders in the country, with British tech lobby group Startup Coalition previously warning the government's tax plans could result in a tech “brain drain.” One tech founder who last week threatened to move to the U.S. over the anticipated tax changes, told CNBC that Wednesday's announcement was “better than I thought it would be.” LONDON — Britain's Labour government on Wednesday announced plans to raise the rate of capital gains tax on share sales, news that offered some relief for technology entrepreneurs who feared a more intense tax raid on the wealthy. Finance Minister Rachel Reeves on Wednesday hiked capital gains tax (CGT) — a levy on the profit investors make from the sale of an investment — as part of her far-reaching budget announcement. The lower capital gains tax rate will be increased to 18% from 10%, while the higher rate will climb to 24% from 20%, Reeves said. The tax hikes are expected to bring in £2.5 billion. “We n
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- 10/31/24 - Beat
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Sec Filings
- 11/19/24 - Form 8-K
- 11/12/24 - Form SC
- 11/12/24 - Form SC
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