How Might the UK’s Autumn Budget Affect Alternative Protein Companies?
The UK’s Autumn Budget, outlining government expenditures and revenues for the next financial year, takes place today. Chancellor Rachel Reeves is expected to announce significant changes, with some affecting businesses. Most notably, it is believed that capital gains tax (CGT), which is charged on profits made from the sale of assets that have increased in value, may be increased. Additionally, business asset disposal relief (previously known as entrepreneurs’ relief) could be scrapped. The relief currently allows entrepreneurs to pay a reduced tax rate on qualifying gains, up to a lifetime cap of £1 million. This additional tax burden could potentially affect alternative protein companies, many of which are small startups. It has been argued that increasing taxes on entrepreneurs who sell their businesses could discourage …