New firm targets growth IT market
Share option millionaires in the growing IT and computing sectors are the target of a new accountancy firm launched in Cardiff.
Former Ernst & Young tax expert Terence Potter has set up Sefton Potter to cater specifically for a new breed of super share wealthy clients.
Potter said that a new tier of upper management with extensive share options had found a new way to make millions in the UK.
‘It is not just dot.com company owners who are minting money,’ he said. ‘There are many managers at and below director level who are making small fortunes out of share options and we are helping them be as tax efficient as possible.’
A manager who stands to make a £5m gain on their shares, he argued, could lose as much as £2m in tax.
‘My firm is helping clients minimise this, in many cases quite dramatically,’ hesaid.
Potter added clients among senior management of blue chip telecom, computing andgrowth sector companies.