Head of Member Services Level 20 | Private Equity & Venture Capital | Strategic Partnership Management | Client Relationships | Business Development | Business & Operational Strategy | ESG | Diversity Champion
My followers don’t need me to spell out the key points in the budget for private markets. Nor am I a tax expert but here is my literal 2 cents. 1. They managed our expectations well and we all know we were going to be “hit” and in places like CGT and Carry they could of bigger hits (but let’s wait for 2026 when further reform is coming!). It keeps the UK as borderline competitive but that is it. 2. The chancellor did make it harder for smaller businesses and especially I feel for growth companies with NI and managing staff expectations for pay increases. Felt in places like was telling us investment is key but also making it that much harder for companies and their investors. Yes, pensions have more scope to diversify into riskier assets but will smaller VC see that £? Yes, EIS and VCT is given a reprieve form sunset clause, but made it harder for their managers. Moreover, Entrepreneurial relief and IHT got major hits. So many have said I wouldnt want to be starting a SME right now, which is sad.
Retired Senior Circuit Judge
1moThanks for sharing