Positive news on Entrepreneurs' Relief...but a missed opportunity
MacIntyre Hudson, the top 20 accountancy firm, sees much to welcome in the Chancellor's announcement on Entrepreneurs' Relief.
Patrick King, Tax Principal, said: "The rise of Entrepreneurs' Relief from £5m to £10m is very welcome news as an effective way to encourage investment in potential growth businesses.
"However, we are deeply disappointed that there is no extension of the relief to employees. It is rare that an employee owns 5% or more the shares in a company (the minimum share holding required for qualification) and at the moment holders of Enterprise Management Incentive share options do not qualify. Changing both these requirements would have encouraged greater employee share ownership in their employer companies."
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Notes:
Detail on IR35 can be found on P31 of the Overview
Media Contacts
Rakesh Shaunak, Nigel May and Patrick King are available for pre- and post-budget comment. Contact Carole Scott or Kate Baker in the MacIntyre Hudson Budget Press Office:
Carole: 07791 253436
Kate: 07949 565585
MacIntyre Hudson landline: 0207 429 4100
