By Aidan Grant
Peter Daniel and Dominic Cole provide a keen insight into the Office for Tax Simplification’s proposal that the reliefs available to owner-managed business be simplified.
I found one point particularly interesting. The authors highlight that there is an uneven playing field between 10% Entrepreneur’s Relief for those who establish their own business (and only then up to a lifetime maximum of £10,000,000), compared to tax-free gains through SEIS/EIS for investors (with no lifetime cap). This surely only works to discourage individuals from setting up in business themselves.