Tax grab on VCT and EIS would be govt ‘own goal’
- On April 21, 2021
- By GrowthInvest Marketing
The Treasury may need to usher in serious tax changes to pay for Covid-19 support but tinkering with the generous tax regime on enterprise investment schemes would be a “serious own goal”, a senior manager has said.
Richard Manley, chief executive of Seneca Partners, told FTAdviser In Focus that the tax reliefs make it “compelling” for investors to put money back into UK businesses.
This makes EIS and venture capital trust schemes important means of boosting British economy – which should encourage the chancellor to continue supporting this part of the investment market, he told the latest Fireside Chat.
However, he said: “There are big bills to pay [post-Covid] and there is going to be some tax impact along the way.”
While nothing has been mentioned in the Budget that might affect VCT or EIS investment, it is something Manley said he was paying attention to.
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