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Prosperity and Work
Latest news
January 24 2008
New tax relief for entrepreneurs
A new capital gains tax relief for entrepreneurs, reflecting the Government's continued commitment to supporting small business and enterprise was announced by the Chancellor of the Exchequer today.
Entrepreneurs' relief will be targeted on the owners of small businesses, and will apply when they sell their business. The relief will also be available to all employees and company directors who invest a material stake in a qualifying company. It will take effect from 6 April 2008 alongside the rest of the capital gains tax reform package.
The relief will deliver a 10 per cent tax rate for up to the first £1 million of lifetime capital gains. Individuals will be able to claim relief for gains made on multiple occasions up to a cumulative total of £1 million. Gains in excess of the £1 million lifetime limit will attract the standard 18 per cent rate of tax.
January 29 2008
Expanding apprenticeships and developing skills
The Apprenticeships Review has been published by the Labour Government outlining an ambitious plan to expand and strengthen apprenticeships.
Building on the major improvements in recent years, the review will establish apprenticeships as a key route in building the national skills base and working with employers to help young people and adults get the skills that employers value.
It also sets out objectives to make apprenticeships a mainstream option for 16 to 18 year-olds and to ensure that places are available for all qualified young people by 2013, with significant growth for older learners also.
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