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Friday
May132011

Top Entrepreneur supports cuts

Leisure Industry magnate, Duncan Bannatyne has said the coalition governments cuts in Corporation Tax will be vital in stimulating UK investment. His pronouncement comes in the wake of record profits for his fitness chain.

The Scottish Entrepreneur and the  BBC's "Dragon's Den" star is said to be very impressed with the coalition's business tax policies despite being a personal friend of the former Prime Minister, Gordon Brown. The corporation tax cuts have so far saved nearly £700,000 for his Health Club business activities and Bannatyne anticipates even greater savings by 2014 when the headline rate will be 24% rather than the current 27%.  

Mr Bannatyne is quoted as saying: “I think it’s great for entrepreneurial businesses,”. He also said “It allows you to invest more money in the business and create jobs or give more money to charity. If corporate tax rates are too high, companies leave the UK and are domiciled abroad. If it is too low you don’t collect enough tax and I think they have got it about right.”

For entrepreneurs, getting the right balance between business investment and business taxes can be difficult. At St Matthew, we specialise in assisting UK and international entrepreneurs in achieving that balance. This is what we do all day, every day. Go to http://stmworldwide.expand-a-business-to-the-uk to find out more.  

 

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