Amanda Thomson Pushes PM on Protecting Entrepreneurs' Tax Relief

Amanda Thomson Pushes PM on Protecting Entrepreneurs' Tax Relief

Thomson & Scott CEO and Founder Amanda Thomson called on Boris Johnson to protect the Entrepreneurs' tax relief at a gathering in West London yesterday.

Speaking to a room of female business leaders, Mr Johnson was reaffirming the fact that entrepreneurs are the life blood of the economy and that we need women scaling businesses more than ever.

As he went to leave, Ms Thomson stood up and called after him to respond on the fear that many business owners have that the Treasury is looking to shut down the relief, allowing entrepreneurs to cut their tax bills when they sell their businesses.

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"It may be that loopholes need to be closed to prevent it from being abused," Thomson said, "but for genuine entrepreneurs growing their first business, the relief is imperative."

The Chancellor Sajid Javid was not present but Kwasi Kwarteng, the Minister for Business was in the room and was tasked by Mr Johnson to bring this issue up with Mr Javid.

"I feel so strongly about this issue because it's been misrepresented as a perk for the rich to get richer," Thomson continues.  "Entrepreneurs go all in to scale their businesses, without a plan B, not least a pension.  This war chest upon first exit can be used to reinvest in new business and give back to the economy.  I'm planning to invest in a portfolio of female-driven businesses and move the needle on the lack of women in the investment space, which is constantly bemoaned.  It would be a seismic blow to lose this relief and many would be forced to relocate to countries with more friendly policies."

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