Entrepreneurs’ relief wrongly dubbed as Britain’s “worst tax break”, says tax partner Mark Fielden
The annual cost of Entrepreneurs’ Relief, recently revealed by HMRC to be £2.4bn, has been widely and wrongly criticised, says Mark Fielden a tax partner with Kingston Smith.
“It is government policy to support those building businesses, but why not also see ER as an equally valuable way to reward entrepreneurs at the end of the business journey? After all, only successful businesses are sold and along the way these business owners will have created jobs, paid taxes and added to our national GDP. This frequently derided Relief is a way to reward success and preserve capital in the hands of those that will use it to contribute most to our economy.”