As part of the Autumn Statement, the George Osborne annouced:
From April 2012, anyone investing up to £100,000 in a new start-up business will be eligible for income tax relief of 50%. In 2012, any tax on capital gains invested in such businesses will also be waived.
Progressive Property Approved Accountant, Business Expert and Trainer/Speaker with Redcliffe Training, MBL Seminars and UK Training
►MD ► Bicknell Business Advisers ✸ family business providing accountancy, tax, and consultancy services to SME's and Start Ups - Xero, Sage One, QuickBooks, Freeagent, Kashflow, Hammock, Dext - Receipt Bank ✸ www.bicknells.net www.stevejbicknell.com
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12 thoughts on “Cut your Income Tax by 50% from April 2012 – Start a New Business”
Don’t forget that as well as the 50% relief on the way in theer is up to 28% relief from CGT on the way out, there are one or two exculded activites, and a few hoops to jump through, but for 78% tax relief its worth getting advice!
Here is great article on how the scheme will work http://www.moneyweek.com/personal-finance/tax/seed-enterprise-investment-scheme-seis-for-start-ups-56630
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