Business Expansion Scheme changes 'a missed opportunity'

The new maximum threshold of €2m for the Business Expansion Scheme is far behind what was intended when the scheme was launched in the 1980s, according to national tax expert Pat Cullen.

The Minister for Finance "has missed out on the opportunity to reshape the Business Expansion Scheme for small enterprises" said Pat Cullen, national tax partner at Deloitte.

"The increase in the company BES limit to €2m, or a maximum of €1.5m in a 12-month period, is insufficient to restore the BES system to its former status as a major incentive to the entrepreneurial spirit which exists in small Irish companies," Mr Cullen said.