The Chancellor’s Spring Statement document includes positive language about the venture capital tax reliefs.
“The government is determined to ensure that the UK is the best place in the world to start and grow a business and is committed to fostering a positive, dynamic environment for entrepreneurs and scale-ups as a central part of the growth mission. The government will continue to work with leading entrepreneurs and venture capital firms on how policy supports that, including the role of tax reliefs such as the Enterprise Management Incentives Scheme, the Enterprise Investment Scheme and the Venture Capital Trust Scheme. As part of this, the government will be holding a series of roundtables with key stakeholders over April.”
We hope this will mean that the various restrictions on companies raising funds can be relaxed. The maximum age requirement and the lifetime investment limits are particularly adverse to companies in the regions of the UK, and to life sciences and engineering businesses.
We look forward to engaging with government officials at the roundtables.
