Onzo

Responding to George Osborne’s budget, Joel Hagan, founder and chief executive of Onzo, welcomed the extended capital gains tax relief for entrepreneurs.

“I am pleased that the Government has listened to the business community’s concerns about capital gains tax and recognised the vital role that entrepreneurs play in this country’s economic future.

“The UK needs entrepreneurs because they are willing to take the financial risks that most people would never dream of taking. They put everything they have at risk to create wealth – their own and others’. They build businesses that create jobs, stimulate the economy, and ensure UK plc is globally competitive. Most entrepreneurs would be unwilling to take those risks if they believed that there wasn’t a return commensurate with the risk, in other words if returns were taxed at the same level as income generally.”

Mr Osborne announced today that the 10% CGT rate for entrepreneurs will be extended to cover the first £5m of life time gains.

- Ends -

For more information on the Emergency Budget June 22nd 2010 click here.

NOTES TO EDITORS

1) For more information please contact:
Emily Feltham, +44 (0)20 3128 8122 or +44 (0)7782 481 818
emily.feltham@yourmandate.com
Nicole Martin, +44 (0)20 3128 8172 or +44 (0)7768 695 087
nicole.martin@yourmandate.com

Onzo
Onzo provides utility companies with customer intelligence solutions. Those solutions enable utilities to achieve their business objectives and meet regulatory requirements: attracting and retaining customers, shifting usage off peak, improving energy efficiency, improving customer satisfaction, reducing the cost to serve, and increasing non-core revenue. Onzo’s solutions include hardware and software that can increase the amount of valuable data that is gathered, process data to maximise its value to the utility, and increase the number and effectiveness of the utility’s consumer touchpoints. For further information please visit www.onzo.com.