Tax specialists are revving up their best guesses ahead of this year's budget on the issue of the level of tax relief accorded venture capital trusts, even as a growing number are expected to close early because of high investor demand.
Chartered accountant MacIntyre Hudson, in its latest note on the issue, gives odds of “2-3 on” that there will be an extension of the review period regarding the current level of tax relief. Victor Dauppe, tax principle, predicts the current 40% level of relief will be maintained for another two years as it “has yet to be fully tested, and the chancellor would have to be really desperate for extra pennies to consider abolishing or reducing it”. In announcing he does not want to change the regime, Gordon Brown would indicate support for investment into startups and growing companies, D...
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