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The Chancellor is expected to announce final details of the controversial capital gains tax reforms within the next three weeks.
Since they were revealed during last month's Pre-Budget Review speech, the proposed CGT changes have drawn much criticism from throughout the tax sector.
But Alistair Darling can still turn them to his advantage by boosting entrepreneurship and investment, PKF tax partner Peter Penneycard has claimed.
He said that extending the Enterprise Investment Scheme (EIS) from next April, so that start-up owners can qualify for CGT relief, would be a clear signal from Mr Darling that he is serious about both a simplified tax system and rewarding investment.
'The EIS limits would exclude large businesses, but this change would help to restore [Darling's] credibility as a supporter of small businesses without triggering an immediate tax cost to the Treasury,' added Mr Penneycard.
'The current rules are illogical as anyone who owns more than 30% of a company or is actively involved in its management is denied relief from CGT while passive investors do not pay tax on EIS share gains.'
'If [the Chancellor] extends this CGT relief to owner-managers, the incentive for entrepreneurs to launch and develop their own businesses will be very attractive. It is during the early stages of a business life-cycle that businesses need the most help and this move would be applauded by the small business community.'
Mr Penneycard went on to say: 'The Chancellor could also quell the unrest in the business community by introducing a two year transitional period for taper relief for those business owners who had invested before the Pre-Budget Report.
'This would only be fair to business owners and would alleviate the need for the forced sale of many businesses before April next year. As we stand now, prospective buyers know they have the seller over a barrel.
'Taper relief would still be removed from the tax system by 2010 but the Chancellor would uphold the tax promise made by his predecessor.'
