VCTs and EISs face tax relief cull

Entrepreneurs' relief, life assurance premium relief, and potentially exempt transfers (PETs) also feature on the list of 74 tax reliefs which face the axe across capital gains (CGT), inheritance, corporation and income taxes. The majority of the reliefs under threat are linked to corporation tax and CGT. In the June Budget, Chancellor George Osborne surprised on the upside by raising CGT to 28% for higher rate taxpayers. A rise of 40-50% had been expected. He also pledged to slash the rate of corporation tax, the levy on business profits, by more than 14% over four years, costing ...