Dubai has been a popular destination for people leaving the UK

Britain could suffer an exodus of business owners if the Chancellor follows through with rumours of a crackdown on wealth at the upcoming Budget.

A fresh poll of founders has shown that four in 10 UK-based entrepreneurs would weigh up whether to leave the UK were Rachel Reeves’s speech to contain either a hike to capital gains tax or a shake-up of inheritance tax gifting rules.

As many as 42 per cent of business owners would consider moving their entire business abroad if either the basic or top rate of capital gains tax were hiked to help plug the government’s £30bn fiscal shortfall. And 40 per cent would shift their residency if reliefs on gifting assets are tightened up, according to the poll from audit shop S&W.

Many ec

See Full Page