The Treasury is reviewing a tax incentive scheme for small business after the
cost to government revenues rose by more than £100m.
The scheme allows key staff to exercise share options without income tax or
NICs. This allows them to only pay capital gains tax as low as 10% when taper
relief starts – when the share option is issued rather than when it is
For 2005/2006, the scheme cost the Treasury £170m, and is estimated to hit
£250m this year.
‘I don’t think EMI is being abused,’ said Malcolm Hurlston, chairman of the
Employee Share Ownership Centre in the paper. ‘If it was not successful it would
not cost anything.’
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states