A fifth of entrepreneurs earning over £150,000 have plans to leave the UK in favour of countries with more appealing tax rates. The research by Tenon, which polled over 300 entrepreneurs, has revealed that more may follow in an attempt to avoid the 50% income tax rate, while 48% are still undecided about what they will do. Of the respondents, 75% feel the government has not done enough to support small businesses, and that only 37% of SMEs have benefited from initiatives introduced by government. 'Entrepreneurs are letting their feet do the talking - they are unhappy with the government's new taxing structure and making it plain for everyone to see, it is their way of showing this rise in income tax will be self-defeating,' said Andy Raynor, chief executive of Tenon Group. Tenon said re-domiciling is just one option for entrepreneurs - a third have decided to stay in the UK but will be looking for alternative ways to minimise their tax burden. 'Time is running out for entrepreneurs to protect their wealth and consolidate their financial position before the new tax rate comes into effect,' said Raynor. 'Action needs to be taken now to ensure they are well placed to mitigate the impact of the new rate, instead of being stifled by the burden.' 'We believe the government is letting down the very people who would provide a boost to the economy,' he added.