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.
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