Paul Myners lobbied

Stakeholder pensions will not be able to buy into venture capital funds without putting themselves at a disadvantage. The British Venture Capital Association (BVCA) is urging the Government to set up a working party to investigate ways to modify the tax system to put an end to this. A report released last week by the BVCA, said the taxation procedure of venture capital funds under a limited partnership is complicated. These problems are amplified when insurers invest via a fund of funds. The administrative burden also becomes an issue for stakeholder pensions, which have a built in charge...