Announced in the Budget, Gordon Brown said he planned to tighten the laws on taxing mainstream share options, meaning that venture capital profit sharing payouts could be taxed at 40% instead of at 10% as they have been since 1987.
However fears that venture capitalists would abandon the country and establish operations offshore lead to negotiations taking place with the industry. A deal is likely soon, the Financial Times reported today.
Representative body, the British Venture Capital Association, is said to be in ‘ongoing and constructive dialogue with the Inland Revenue’ with the aim of maintaining the status quo.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.