BADR 40% increase from 10% to 14% in 25, then 18% in 26
Discussion
Ouch!
Not as bad as the feared scrapping of it totally, but would mean a £40k extra tax bill for anyone looking to take out the full £1M allowance from April 25, so £140,000 in tax or £180,000 in extra tax from April 26. Still better than standard capital gains now at 24%, but doesn't promote starting a small business IMHO.
I was looking at doing this myself next year, anyone else thinking of the same? I believe it takes around 6 months and no doubt the MVL companies offering the service and likely to be very busy now.
Not as bad as the feared scrapping of it totally, but would mean a £40k extra tax bill for anyone looking to take out the full £1M allowance from April 25, so £140,000 in tax or £180,000 in extra tax from April 26. Still better than standard capital gains now at 24%, but doesn't promote starting a small business IMHO.
I was looking at doing this myself next year, anyone else thinking of the same? I believe it takes around 6 months and no doubt the MVL companies offering the service and likely to be very busy now.
- Edit* ignore, just seen the other post on the same topic!
Gassing Station | Business | Top of Page | What's New | My Stuff