GBI 34 | Sunrise for EIS and SEIS? | November 2022

by | Oct 19, 2022

Share this article

GBI Magazine issue 34 cover

Well, have you caught your breath yet – after a solid diet of government announcements this past month?

We are certainly living in unprecedented times. Whilst this month’s GBI Magazine is leading with the end of the ‘Sunset Clause’ and the raise in the limits for SEIS announced by the-then Chancellor Kwarteng, in September, I think you will all appreciate that, following so many recent government changes, not least of the Chancellor himself, we wait for formal confirmation from the Treasury that these positive steps will indeed survive before we get too excited about their longevity.

However, the good indicators are that we all have reason to be hopeful. I say that given the Chancellor’s response on 17th October to a question asked by an MP specifically on SEIS and innovation in the House of Commons. This received not only a positive reply from Mr Hunt but a reminder that he ran a tech business for 14 years and knows exactly how important these schemes are.

We are therefore going to be optimistic that the Kwarteng changes will indeed survive into legislation. That’s why we are leading with industry commentary on the changes in the, mostly now reversed, ‘mini-budget’ as all of us in the sector recognised those relating to EIS and SEIS were positive, constructive moves to enhance the engine of the UK economy.

This month’s highlights

The Chairman of the VCTA, Will Fraser Allen, in a timely interview as it turns out, sets out clearly why this sector is crucial to rebuilding our economic growth at a regional and national level. Sarah Barber, CEO of Jenson Funding, offers expert insight into how investors might look beyond London for great opportunities. Richard Roberts of Oxford Capital offers sage advice to all IFAs on how patient capital is just as important for clients in EIS investment as the tax efficient opportunities themselves. Given the recent turmoil in the markets and cost of living increases, Andrew Aldridge, Partner at Deepbridge Capital offers advice on how investors might target long-term above inflation growth by using venture capital.

OnePlanet Capital talk to us about the climate credentials of SaaS (Software as a Service) platforms and SFC Capital outline the overarching important benefits of EIS and SEIS. Hot off the blocks after the announcement of the changes to SEIS, Haatch Ventures have announced their new look SEIS fund and last but not least, Regenerate showcase their latest AgTech investment in ‘Muddy Machines’.

Keeping fingers crossed

So, as we wait for formal confirmation of what the future for EIS and SEIS will be, you can be sure that we will keep you updated on our website https://ifamagazine.com/news-gbi/. Plus, as always, we’ll continue to bring you a selection of tax-efficient investment opportunities available to your clients right now.

Enjoy the read!

Alex Sullivan
CEO and Managing Partner

Share this article

Related articles

Guinness Ventures launches Offer for new Venture Capital Trust

Guinness Ventures launches Offer for new Venture Capital Trust

Guinness Ventures, the growth company investment arm of Guinness Asset Management, has launched a share offer for its new Venture Capital Trust, its first VCT vehicle. The Offer is for £10 million with a £20 million over-allotment. It will close not later than 3.00 pm...

Trending articles