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UK Tax Changes will hit Entrepreneurs' Retirement
http://www.entrepreneurs-and-co.com/articles/88/1/UK-Tax-Changes-will-hit-Entrepreneurs-Retirement/Page1.html
Grant Beeming

"Who are we ?"

Company Profile :


Entrepreneurs and CO Ltd

145-157 St John Street - London EC1V 4PY

Chartered Accountants & Business Advisers, at Entrepreneurs & Co (ENC), we appreciate the value of working together as a team.

Because the flow of ideas is encouraged at ENC and everyone feels free to express their opinion with regard to work related matters it has by the very nature of being, created a dynamic work environment. As a team we all recognise our responsibility in making Entrepreneurs and Co what it is.

The reputation of the whole firm is in the hands of each individual and we are proud of being part of such a strong team. Together we encourage and motivate each other in a dynamic environment so that as a team we can provide innovative and profitable solutions for individuals and businesses.


Services

Every client is unique and deserves a unique service. Our philosophy is to put our clients first - to understand their situation and provide a first class service tailored to their specific needs.

Because we establish a one-to-one relationship with each client we are able to offer timely, individual advice on how to improve your business or personal finances.

As leading edge accountants we have developed the traditional bookkeeping, auditing, and accounting services into innovative client-focused services that provide not only all the reliable background support you would expect from a professional firm but also forward-thinking advice on how to improve your situation.

We have also developed a new range of accounting services to meet the needs of modern businesses, including a comprehensive business advisory service. Whether you need help with growing your business or advice on optimising your personal or family finances, we are here to help you get the best results.

 
By Grant Beeming
Published on 25/10/2007
 

The Federation of Small Businesses has warned entrepreneurs that they will be hit by changes to capital gains tax when they retire as well as during the usual course of selling a business.

UK Tax Changes will hit entrepreneurs and small business owners, as they will have to pay higher charges, than ever before.


Entrepreneurs now face a more uncertain Retirement in the UK

Measures announced by chancellor Alistair Darling in the pre-Budget report will now affect entrepreneurs who were relying on selling their business to fund their retirement, often in place of a pension.

The changes – which have been fiercely opposed by business groups including the British Chambers of Commerce and CBI – will see the various rates for capital gains tax scrapped in favour of a flat rate.

This means small business owners selling up will have to pay 18% rather than the previous rate of 10%, which was introduced by Labour government in the 1990s in a bid to encourage start-ups.

“Many entrepreneurs now face a more uncertain retirement,” explained FSB national chairman John Wright.