The disclosure was made yesterday during the chancellor’s visit to New York where he unveiled the first of several pledges expected to be included in a ‘pro-enterprise’ Budget next month.
Internet companies have protested that the tax treatment of these schemes means they are faced with multi-million pound national insurance bills even when they are making huge trading losses.
This problem affects dot.com companies particularly severely because of their soaring share prices.
The next Budget is expected to contain a number of tax breaks and other measures aimed at making Britain a favourable environment for starting up new businesses.
The ‘nation of entrepreneurs’ theme has long been espoused by Brown and trade secretary Stephen Byers, who has tried to implement several changes to company law including trying to remove the stigma from banktuptcy and making company insolvency easier to deal with through the insolvency bill.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy