UKBAA and Finance UK host Knowledge Intensive Companies Roundtable
The Chancellor announced a new enhanced tax break under the EIS scheme for investors who are seeking to back Knowledge Intensive Businesses here in the UK. This enables investors to access a further annual £1 million investment capacity to back KIBs in addition to the existing £1m for other eligible EIS investments. However, there is still a some uncertainty among our community about what exactly a KIB business is and what businesses are eligible for accessing these new enhanced EIS relief levels. With this in mind we held a lively roundtable last Friday with over 30 of our angel investor community who met with representatives of HMT, HMRC and BEIS, kindly hosted by Finance UK and where we were able to discuss the new guidelines and relevance to businesses backed by angels.HMRC will be issuing further guidance and we will ensure our community is updated before this new EIS relief comes into force on 1 April 2018.
View the slides provided by HMRC here: