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HIDDEN GEM FOR ENTREPRENEURIAL RECRUITERS IN AUTUMN STATEMENT

HIDDEN GEM FOR ENTREPRENEURIAL RECRUITERS IN AUTUMN STATEMENT

The recent Autumn Statement contained a hidden gem for entrepreneurial recruiters according to Adrian Kinnersley, Managing Director of Twenty Recruitment Group.

“The Government’s announcement that shares acquired under EMI schemes will no longer have to satisfy the 12 month period of ownership rule in order to qualify for entrepreneur’s relief is good news for companies like ours,” he said.

“When we started Twenty we engineered an & lsquo;ownership’ model in the form of an EMI scheme to get our business heads thinking of the company as a medium term project at the end of which they would get a handsome return.  We have been very transparent about our exit ambitions right from the very start – we’ve never given the impression that we’re building a business which will last for ever in its current form.  Consequently we are delighted with this news – and with the Government also removing the 5% rule, most gains from exercising EMI options should be taxed at 10% instead of 28%.”

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