tax break

Tax Cuts

Former Dragon wants Tax Break for Start-ups

Former Dragons’ Den investor Doug Richard has called for start-ups to be given a tax exemption during their first few years of trading, in a new report published by the British Library. The idea has been put forward in the British Library’s Enterprising Voices: Supporting the Drive for Recovery report (372k PDF). According to Richard, tax incentives are the most effective way to encourage budding entrepreneurs; “It takes a good 18 months of solid work before a new business starts to really establish itself. If the Government is serious about encouraging enterprise in the UK, then they need to avoid gimmicks like the VAT cut, and offer start-ups a genuine exemption from tax until they get their businesses up and running.” The proposal was also endorsed by founder of ... »