The Inland Revenue claims the changes will boost productivity by encouraging appropriate collaborative working by companies and broadening support for employee share ownership.
Under the proposals, where certain qualifications are met:
- Companies will take into account a share of the activities of the joint venture companies in which they have invested when assessing whether or not the participating companies or groups are trading;
- Employees of joint venture companies who own shares in the participating trading companies (or in their parent companies) will have wider access to business assets taper relief.More details from the Revenue
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