UK Business Angels hope for More Tax Relief in Budget

UK business angels are hoping that the chancellor will provide them with greater incentive to invest in small innovative companies.

“Changes to enterprise investment schemes (EIS’) are going to be crucial on Wednesday as the government seeks new ways for small businesses to gain investment for growth”, said Sally Goodsell, CEO of Finance South East, today.

“I would like to see a sliding scale of EIS relief with more tax relief for smaller, innovative companies. To encourage angel investment we really need 40 or even 50 per cent tax relief for private investment in high-growth companies”, she added.

She also called for “more flexibility around EIS funds giving individuals a longer period to invest and of course cuts to small business red tape.”

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