Could a capital gains tax hike drive fintechs out of the UK?

Prominent UK fintech founders have warned the new government that hiking capital gains tax risks forcing them out of the country, with nearly half already mulling relocation. In a letter to Rachel Reeves, seen by City AM, grassroots industry group Fintech Founders urged the Chancellor not to alter capital gains tax “in a way which will reduce incentives for entrepreneurship and which harms UK competitiveness”. The letter, signed by 66 founders and chief executives, said that while members of the group “do not want to relocate, founders are increasingly considering leaving the UK”. It said 43 per cent of founders reported they were considering relocating out of the country. Get more on the story https://www.cityam.com/uk-fintech-stars-warn-capital-gains-tax-hike-could-force-them-to-relocate/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam Produced by: Lars Mucklejohn, Scarlett Wild, Larissa Howie