Budget analysis: Growth reforms could go further
“We welcome the steps to improve the Enterprise Management Incentive scheme (EMI), as part of the Government’s reforms for growth” comments Rachel Marsdin, tax partner at Moore and Smalley.
“The initiative encourages SMEs in the North West to recruit and retain talent, providing additional support enabling start-ups to access the scheme. This move will work towards a consultation amending restrictions that currently prevent the scheme being used by academics employed by start-ups. The announcement sees the individual grant limit doubled to £250,000.”
However Rachel believes that the Government will need to go further to secure real growth for mid-market firms in the region.
“While the significant increase of £120k to £250k is welcome, we feel North West companies having growth assets of less than £30m is overly restrictive. We would have liked to see the scope of qualifying companies increased in the Budget but hopefully this will be the outcome of the consultation later on in the year.”