Small businesses penalised

07 November 2007

Issue: 4133 / Categories: Forum & Feedback

Like everyone else, I was incensed by the Budget changes to capital gains tax, but unlike most of the articles I read I directed my sympathy to all the small sole proprietors and partnerships who have built businesses up over a lifetime

Like everyone else I was incensed by the Budget changes to capital gains tax but unlike most of the articles I read I directed my sympathy to all the small sole proprietors and partnerships who have built businesses up over a lifetime not two years who will proportionately suffer the greatest. The following is a recent letter sent to my MP William Hague following an earlier exchange of correspondence:

Dear Mr Hague
In my previous letter I tried to differentiate between the Government's definition of small businesses i.e. turnover under £3 million or less than 100 employees with my definition which are the vast number of sole proprietors partnership and small family companies with turnovers mainly between £10 000 and £500 000 making profits of £5 000 to £150 000. These are the salt of the earth ...

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