Over three quarters of small and medium sized businesses in the UK warn tax hikes for high earners will force entrepreneurs to set up shop overseas, a survey suggest.
The tax measures announced in the Budget, will act as a deterrent to entrepreneurs to set up firms in Britain, according to 75% of the 350 small and medium-sized businesses surveyed by accountancy firm, MacIntyre Hudson. Measures unveiled in the Budget include: the withdrawal of personal allowances for those earning over £100,000, the new 50p top rate of income tax, and restriction in pension relief for those earning £150,000. The research found, over three quarters of respondents believe the tax hikes will prove "punitive" for successful business people. Almost 75% of businesses thi...
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