£267m farewell to Enterprise Zones from firm

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A TAX advice and accountancy firm in Milton Keynes has raised funds to buy more than £858million of buildings in tax-efficient Enterprise Zones – £267million during the last tax year.

Chancery (UK) LLP, in Boycott Avenue, Oldbrook, runs enterprise zone syndicates which had a record investment year in 2010/2011. The company has been involved in Enterprise Zones for 30 years and a leading investor during the last decade.

Arrangements for Enterprise Zones changed on April 5.

Peter Nichols, founding and senior Partner of Chancery (UK) LLP said: “Chancery investors have both sheltered tax and found a good home for their money, new jobs have been created and the government has received revenue from sites that were generating no income for the country before they were developed through Enterprise Zone funding.”