🧑🏼💻 Entrepreneur 📈 Investor. I post mainly about building companies & investing (sometimes travel/life!)
UK
Joined October 2026
- Tweets761
- Following84
- Followers161
- Likes474
Founders Relief may not be all it seems…
Personal conditions (proposed):
Held at least 25% of the ordinary share capital (with corresponding voting rights and rights to profits/assets) when the trade (or preparation for it) began. This can be met via a holding company of a trading group. The relief covers all shares the individual sells, not only the original holding.
Held the shares for at least five years before disposal.
UK-resident for at least five continuous tax years before disposal.
Only individuals can claim.
Company conditions (proposed):
Within the scope of UK Corporation Tax, with a substantial UK presence for the five accounting periods before disposal.
Trading company (or holding company of a trading group), without substantial non-trading activities or excluded activities (aligned with EIS exclusions, such as dealing in land, financial services, or property development).
Continues the trade it was established for, with no major change in its nature.
At least £10 million turnover and at least 15 qualifying full-time employees in the accounting period before disposal. A qualifying employee works at least 35 hours a week and is paid at least the National Minimum Wage (directors, contractors, and agency workers do not count).
Growth and innovation conditions (proposed):
The company must meet at least two of these three tests:
Turnover growth: Average compound growth of 25% a year over three consecutive accounting periods within the ten years before disposal, starting from at least £10 million in the period before the first of those three.
Headcount growth: The same 25% average growth in full-time equivalent employees over three consecutive periods, starting from at least 15.
Innovation: At least £1.5 million of qualifying R&D expenditure for which R&D tax relief was claimed, in periods ending within the three years before disposal.
Claims are expected via Self Assessment (possibly with a supporting form). There is discussion of a statutory right for claimants to request necessary information from the company. If a condition later fails (for example, if HMRC disallows an R&D claim the individual relied on), the relief is lost and the additional tax becomes due with interest.
So this is a budget where he kicks the can down the road to July next year…
#Budget2026 #budget
The Chancellor is expected to announce rises in the national minimum wage. With the backdrop of AI already hitting jobs - it could be dangerous.
Stanford data shows 22–25-year-olds in the most AI-exposed jobs have seen 13–19% relative employment declines since ChatGPT came about, mainly via reduced junior hiring. UK graduate and entry-level vacancies have also fallen sharply.
Higher wage floors raise the relative cost of routine, codifiable work in retail, hospitality and warehouses (as well as more broadly in professional services etc) - making self-checkouts, robots and AI agents more attractive substitutes. When machines can do the first-rung tasks, the price of the early career worker decides who gets hired.
Higher floors still help those who stay in work. But with AI advancing, they risk fewer entry points precisely when labour markets are already weakening.
It’s a delicate balance and the government mustn’t underestimate the risk of pushing more companies to replace people with AI through higher wages in a world where corporate taxes, employment taxes and sales taxes are at record levels.
#Budget #Budget2026
I’m not sure what has been more controversial over the last 24hrs between…
1) Making Gherkins cheaper
2) Pedestrianising Oxford Street
3) The iPhone Duo screen CrackGate
I love X, there’s passion on all fronts 😅
What a pickle this Budget is turning into. Rather than raising the personal allowance (which has not been meaningfully increased for many years), instead we've got cheaper Gherkins.
The very thing most people remove from their burger is now cheaper - whilst people can't afford to heat their homes 😅
#budget2026
🇬🇧 FTSE 100 opens lower (−0.9%) after yesterday’s gains.
🇺🇸 US futures mixed ahead of Fed + earnings
S&P ~flat, Nasdaq −0.4%, Dow slightly green
AI optimism from Anthropic filing cools a bit overnight. Eyes on Fed meeting starting today.
#FTSE #StockMarket #Futures
Reasons NOT to buy the iPhone Duo (according to x) ✍️
❌ You can’t drop it off a building without it breaking
❌ You can’t pour a handful of corse sand directly into its hinge without it breaking
❌ If you stab the inside screen with a knife more than twice it just breaks
❌ If you bend it backwards with so much force it makes you physically shake, it breaks
❌ Some app developers haven’t redesigned their apps in the last 5 days
❌ If I get one of the tiny fraction which are already broken, it doesn’t matter if Apple replace it immediately, under warranty, you should still absolutely not buy it just in case.
What else am I missing?
General airport lounges are a broken model... you now get lounge access with any old package holiday. It's no longer a "luxury" (aside from airlines own lounges where they are strictly accessible on status/ticket class). It's definitely no longer of value to Amex (or similar) card holders.
Revolut just launched UK personal loans: £2k–£25k at personalised rates from 6.9% to 29.3%.
29.3% is credit-card territory.
Given Revolut’s user base (younger, often secondary account, thinner credit files), the low-rate tier is going to be a small club. That means many young people will be agreeing to (likely) gamified loan offers at an extortionate rate.
This is no doubt a money maker for Revolut ahead of IPO, but it’s got a Klarna feel to it?