This petition is now closed, as its deadline has passed.
We the undersigned petition the Prime Minister to Not to change 75% taper relief (CAP TAXES) on the sale of Businesses. More details
Submitted by Porteur Keene of Bullet Search Ltd – Deadline to sign up by: 11 December 2007 – Signatures: 162
Small businesses in particular are run by go getters who sacrifice salaries and invest their own savings to build businesses which are the backbone of British Business. The pay back for all of the risk taken is that with taper relief the effective tax rate to the owners of these businesses is 10%. The Government announced yesterday that this releif would be replaced with a flat 18% tax. Essentially doubling the future tax bill for those who sacrifice so much to create employment and success for Britain. In addition to raising Corporate Tax from 19% to 22% in the last budget for small companies, this additional blow will have a serious effect on those who build businesses.
We call on the Government not to make such a damaging change to the tax system for small companies.
Porteur Keene, the Petition Creator, joined by: