Our website uses cookies to store information on your computer. You may delete and block all cookies from this site, but parts of the site will not work as a result. Find out more about how we use cookies.
(Do not show this message again)
Shout99 - News matters for freelancers FO35 Advert
Search Shout99 - News matters for freelancers
(Advanced Search)
   Join Shout99  About Shout99   Sitemap   Contact Shout99 17th Dec 2014
Forgot your password?
Shout99 - Freelancers, FO35, Section 660
New Users Click Here
Shout99 - Freelancers, FO35, Section 660
Shout99 - Freelancers, FO35, Section 660
Front Page
News...
Freelancers' Shop...
Ask an Expert...
Letters
Direct Contracts
Press Links
Question Time
The Clubhouse
Conference Hall...
News from Partners
Accountants

Login
Sitemap

Business Links

Shout99 - Freelancers, FO35, Section 660

Freelancers' Shop

Personal Financial Services
from ContractorFinancials

Mortgages

Pensions

ISAs

Income protection

... and more special offers for Shout99 readers in the Freelancers' Shop

Shout99 - Freelancers, FO35, Section 660
  
Shout99 - Freelancers, FO35, Section 660

News for the
Construction Industry

Hardhatter.com - News for small businesses in the construction industry

Powered by
Powered by Novacaster
Advertisement
Shout99 Jobs

Budget 2014 (8): Caution that crack-down doesn't deter investors
by Susie Hughes at 13:45 20/03/14 (Political News)
The Government has been warned not to over-react in its attempts to tackle abuse of Venture Capital Trusts (VCTs) and Enterprise Investment Schemes (EISs) and risk deterring investment in small business.
In the Budget Report, the Treasury expressed concern about the growing use of ‘contrived structures’ which allow investment in low-risk activities benefiting from income guarantees through subsidies from the Government. It is now attempting to exclude these kinds of investments from tax relief. A consultation will take place later in the year looking more closely at exploring options for VCT reliefs to apply where investments are in the form of convertible loans.

President of The Association of Taxation Technicians (ATT), Yvette Nunn, said: “Although the Association understands that the Budget announcement is part of a broader effort to crack down on tax avoidance, it is equally important to recognise that those schemes intended to increase investment in growing businesses must not be hampered by an over-zealous attempt to combat avoidance.

"It is a fine line between cracking down on tax avoidance and not deterring those keen to take advantage of VCTs and EISs. We must of course be mindful of anti-abuse rules but make sure that they do not diminish the desire of those willing to help small businesses to grow from doing so. In particular, the rules should not be made any more complex than they are already.

"Ideally, we would prefer any attack on perceived abuse to be made using the General Anti-Abuse Rule (GAAR) that was introduced by Finance ACT 2013. That is what it is there for.”


More information
Full coverage Budget issues affecting small businesses and freelancers - and experts reactions to them - will be available in the Political News section of Shout99.

Alerts also available through our Twitter feed.

--
If you wish to comment on this article, please log in and use the Reply button below. Registering is free and easy - see 'Join Shout99'.
-
Susie Hughes © Shout99 2014

Printer Version

Mail this to a friend

Copyright 1999-2012, Shout99.com | All Rights Reserved | Legal Notice
 

Advertisements
advert
advert
advert
advert