Overview

Business Expansion Scheme


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(BES)

A UK fiscal device intended to encourage investment of venture capital in new businesses. This operated from 1981 to 1994, when it was replaced by the Enterprise Investment Scheme. Investment under the BES was encouraged by tax concessions; it is not clear how many businesses coming into the scheme were really new, and how far it benefited businesses which would have been started in any case even without the scheme, or whether it encouraged creative accounting to enable businesses which were already in existence to participate.

Subjects: Economics.


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