To ask His Majesty's Government what assessment they have made of the impact of existing tax-efficient schemes on (1) supporting small businesses, and (2) attracting investment.
Answered on
24 July 2023
There are a number of schemes which aim to support investment into small businesses. In particular, the tax-advantaged venture capital (VC) schemes provide a range of generous tax reliefs to incentivise individuals to invest in small and growing companies.
The VC schemes are currently being evaluated under the criteria set out in the published list of HMRC planned evaluation publications. Part of the research element of these evaluations is designed to understand the impact of the schemes in meeting their objectives. The evaluations will be published according to HMRC’s usual process, as part of the commitment to publish all commissioned research. The Government keeps all tax reliefs under review to ensure they continue to meet their policy objectives in a way that is fair and effective.