Crackdown on exploitation of tax break

The Government has issued draft legislation to crack down on suspected exploitation of a tax break designed to help early-stage companies raise finance. Figures show that investors put over £1bn into the Enterprise Investment Scheme last year. The draft legislation is to block investors from using its tax breaks to fund renewable energy projects, viewed as low risk because they are underpinned by public subsidies.

Source: Financial Times

Since this is the time of year for Christmas cracker riddles, try this one: Q. When does a tax break become a tax avoidance device? A. When people use it.

NICOLA HALL

BILSHAN MENSAH

Sam Inkersole

In 2022, Sam won the Taxation’s Rising Star award at the Taxation Awards in and was named in the Accountancy Age 35 Under 35.

Jon Wedge

While Jon’s client work focuses on the financial services sector, he also oversees the firm’s assurance service, as well as supporting the trainees following in his footsteps.

ELANA DIMMER

Elana joined us in 2017 as an ACA trainee, after graduating from Durham University where she had studied languages. She is now a manager in our assurance team.

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