Business Department Rules Out 'Exit Tax' on UK Entrepreneurs
UKPulse Money Desk
The UK business department has reportedly ruled out an 'exit tax' on companies spun out from UK universities that relocate abroad.
- An 'exit tax' on UK entrepreneurs has been ruled out by the business department.
- The proposed levy would have affected companies spun out from UK universities that move abroad.
Fears of an 'exit tax' on UK entrepreneurs have been addressed by the business department, which has reportedly ruled out such a levy. The proposed tax would have applied to companies spun out from UK universities that choose to relocate abroad.
Jonathan Reynolds, whose role is not specified in the evidence, reportedly sought to quell these concerns.