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Tuesday 19 May 2020

Future Fund - 'Double-Whammy of a Clanger'

SMEsOn a personal basis as an Angel Investor, via TechMarketView’s many initiatives to help startups and scaleups and in our involvement in the ScaleUP Group, you cannot doubt our support for that part of the UK tech sector.

On 6th Apr 20 I wrote SOS from SMEs which argued that one of the best ways of supporting SMEs through the COVID-19 crisis would be to make the EIS and SEIS schemes MORE attractive to investors. Maybe increasing the tax breaks for a short period.

Not only was my sage advice ignored, but the rules of HMGovt’s new £500m Future Fund mean that any company availing themselves of such support would disqualify angel investors from making EIS eligible investments. The Future Fund must be backed £ for £ by private equity - so this is a double-whammy of a clanger.

Posted by: Richard Holway

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