Will Fraser-Allen, Chair of the VCTA, has commented on the Spring Budget announcement made yesterday by Chancellor Jeremy Hunt.
He said: “Yesterday’s Budget delivered by the Chancellor provided welcome clarity to entrepreneurs raising capital using SEIS, by increasing the investment limits for companies and investors after promising in the 2022 Autumn Statement that these changes would be enacted. We welcome these changes, which we hope will provide much needed support to the UK’s class of small, high-growth businesses, as well as the commitment by the Chancellor to support technology and innovation in the wider economy.
“In order to further reassure early-stage businesses in the UK, we will continue to engage with relevant stakeholders to ensure that the same level of clarity is extended to the VCT and EIS investment schemes. We hope the government will quickly clarify how the schemes will be extended beyond the Sunset Clause in 2025. This is needed to remove the uncertainty faced by the schemes which provide vital funding to so many entrepreneurs around the country.”