Private equity giants have turned their backs on the tech start-up companies,
as the fledglings continue to be denied key tax breaks.
3i has now said that it will stop sinking cash into technology minnows,
following the example of Apax Partners which stopped sinking cash into the
sector last summer.
The BVCA, the venture capital industry group, is lobbying for tax benefits
such as R&D tax credits to rejuvenate these businesses. ‘The BVCA has for
some time been calling for a range of measures to help foster a more successful
venture capital industry in the UK,’ BVCA chief executive Simon Walker told
‘These [companies] are currently denied access to a range of schemes
available to other small businesses. This is a legislative anomaly and it would
be easy to change.’
Colin responds to the call for 'Darwinism' in accountancy
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