Motorsport Entrepreneurs warn against raid on CGT
More than 2,200 entrepreneurs have signed an open letter to the Chancellor urging him to scrap plans to align capital gains tax with income tax, warning it would stifle innovation and discourage risk-taking. Rishi Sunak is considering plans to equalise the taxes, which could see many business owners paying CGT at the higher rate of 45%. The letter, organised by Lord Leigh, founder of Cavendish Corporate Finance, and Shalini Khemka, chief executive of entrepreneurs' group E2E, says CGT must remain at an "appropriate level to reflect the risk we have taken and the prosperity we have brought to others in creating a new enterprise".