QCA 2011 Budget Representations

7th February 2011

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The QCA Tax Committee, in conjunction with the Share Schemes Committee, has prepared proposals for taxation reform designed to help drive private sector growth and employment, particularly with regard to the small and mid-cap quoted company sector.

The QCA Tax Committee, in conjunction with the Share Schemes Committee, has prepared proposals for taxation reform designed to help drive private sector growth and employment, particularly with regard to the small and mid-cap quoted company sector.  Areas discussed include:

Capital Gains Tax Reform of Entrepreneurs’ Relief

Our proposals are designed to help align the interests of employers and shareholders and to encourage the provision of capital and expertise to SMEs, the engines of growth in the UK economy. They would be funded by proposals to only provide favourable CGT relief for longer term investments.

Venture Capital Schemes

Our proposals to simplify and extend the reliefs to businesses with up to 250 employees should lead to increased stimulus for the SME sector to drive growth and help fill the finance gap. Increasing the employee limit would have the knock-on effect of creating more employment within businesses without affecting a company's EIS/VCT status and result in corresponding increases in employment and corporation taxes collected by HMRC.

Stamp Duty/ISAs/Costs of Raising Equity

These proposals are designed to stimulate activity in the shares of small and mid-cap quoted companies, which will help drive investment in the sector.

HMRC Administration/ Dispute Resolution

Our proposal should help bring more collaboration between HMRC and tax-paying companies.   

Click here to read more about our proposals (pdf)

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