VCT and EIS managers have expressed their concerns about the repercussions for the sector of the government's Patient Capital Review consultation, with possible restrictions on the vehicles set to be announced in the Chancellor's autumn Budget.
Within the document published over the summer, the government pointed to the contribution of current tax-efficient schemes to the funding landscape for small businesses. "EIS in particular is praised highly by business angels as having supported significant amounts of new investment since its inception," the report says. However, the consultation paper highlighted the government is most worried about the ability of innovative firms to scale up and source capital for their growth plans. Meanwhile, it suggests it is "not possible" to ensure tax-efficient schemes only target those fi...
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