The Labour government has announced an increase in capital gains tax (CGT) rates, raising the lower rate to 18% and the higher rate to 24%, while maintaining the £1 million lifetime limit under business asset disposal relief. This has sparked concerns among tech founders about a potential "brain drain," with a survey indicating that 89% of respondents would consider relocating their businesses abroad. Despite the tax hikes, some entrepreneurs feel the government has addressed their main concerns, particularly regarding research and development investment.
Sequoia Capital and other venture firms are set to gain over $100 million from Stripe Inc.'s acquisition of crypto platform Bridge for $1.1 billion in cash and stock. This deal marks a significant win for VCs in a challenging market, with Bridge, founded less than three years ago, providing a quick return on investment.
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