‘Sigh of relief’ as Healey woos British founders with £10m tax break

Britain’s startup founders have welcomed a sweeping package of tax breaks in John Healey’s first Budget, but investors warned that the Chancellor’s attempt to keep the country’s most promising businesses at home will fall short without more capital to help them grow. At the centre of Wednesday’s announcement was a new Founders’ Relief, offering entrepreneurs a 10 per cent capital gains tax rate on up to £10m of lifetime gains when selling qualifying shares. The move marks a significant reversal of years of increasingly punitive tax treatment for entrepreneurs, which had fuelled concerns that Britain was becoming a less attractive place to build and sell a business. Entrepreneurs and founders will breathe a sigh of relief after today’s Budget , said Brent Hoberman, co-founder of Founders Forum Group. Founders’ Relief, in particular, is something we’ve long been calling for and will encourage our best entrepreneurs to start and stay in Britain . However, the Chancellor s