Small plcs find favour with tax changes
The Quoted Companies Alliance, which represents the interests of companies listed outside the FTSE-350, has applauded the chancellor on two measures introduced in last week's Budget.
It highlighted the tax relief on the cost of raising equity and changes relating to EIS/VCT schemes, which had previously not being eligible for investment in fully listed companies, as two positive points to come out of the speech.
The QCA will now consult with the government to ensure these schemes are enhanced and that they apply more fully to small quoted companies.
John Pierce, chief executive at the QCA, said: ‘The QCA strongly welcomes the chancellor’s willingness to support SQCs in this way. We have fought long and hard for these changes and will continue to throughout the impending consultation process.’