Publications

For most of the financial planning community, waving goodbye to the summer holidays and welcoming the autumn months can signal a pivotal time for those anticipating their busiest months ahead. Discussion of tax-planning opportunities may indeed be ramping up and this edition of the Enterprise Investment Scheme (EIS) industry update takes a look at some of the key market updates happening across the landscape to help inform those conversations with clients. In addition, this update delivers expert insights from prominent EIS managers taking a closer look at effective strategies and sectors that they are leveraging to help achieve growth opportunities for investors. You can claim up to 2 hours CPD for reading the update and it is free to access here.

This industry update of the Business Relief (BR) landscape comes at a time where latest HMRC figures for 2023 demonstrate another record-breaking year of IHT receipts. There is a huge opportunity for financial advisers to discuss estate-planning options for clients and explore how investments that qualify for BR can help unlock capital preservation and growth opportunities. As well as insights into the wider market landscape, this update delivers expert insights from prominent BR managers taking a closer look at effective IHT-mitigation strategies and how selecting a specialist manager can help your clients achieve their estate-planning goals. You can claim up to 2 hours CPD for reading the update and it is free to access here.

Remember to claim up to 2 hours CPD after going through the highly readable report.

The Enterprise Investment Scheme (EIS) has been a powerful growth driver and tax planning solution across almost three decades. During that time, EIS investment remained strong throughout the economic cycle despite deep depressions and political turbulence. What’s more, in a high inflation context, growth investments like EIS can offer a real boost to portfolios. But the risks are high even in the best economic conditions, so it’s crucial that advisers have a good understanding of how and when EIS investments can generate the best outcomes.

This informative and accessible guide includes rules, regulations and case studies updated for the 2023/24 tax year.

You can claim up to four hours CPD for reading the Guide and it is free to access here.

This industry update of the Enterprise Investment Scheme (EIS) comes at a pivotal time as we enter into the 2023/24 tax year. The changes that were announced in the Spring Budget are now in full effect and it couldn’t be a more pertinent time for investors to think about maximising their tax-planning opportunities for the year ahead. As well as insights into the wider market landscape, this update delivers expert insights from prominent EIS managers and thought leadership pieces from Christiana Stewart-Lockhart, EIS Association and Lee Coates (OBE), ESG Accord.
You can claim up to 2 hours CPD for reading the update and it is free to access here.

The current climate has seen an increased focus on inheritance tax (IHT) planning, making this update especially relevant. As individuals and families seek to mitigate their IHT liability, Business Relief (BR) investment offers an attractive option to achieve both tax-efficient planning and potential returns.
This report provides valuable insights and expert analysis on a range of pressing BR topics, including the impact of the Spring Budget 2023 on VCT investors, diversification through asset finance, technical support offered by BR managers, lending in a rising interest rate environment, and strategies for avoiding concentration risk.

Nearing its three-decade mark, the Venture Capital Trust (VCT) scheme continues to evolve. Several VCTs have merged in an effort to save costs and a number of limited-life VCTs have wound up. Despite this consolidation, however, the sector achieved a remarkable 68% increase in total fundraising last year.

This comprehensive report of the VCT sector explores a dynamic investment landscape amid an economic crisis and highlights a promising outlook for the popular tax-advantaged scheme.

This industry update of the Enterprise Investment Scheme (EIS)—the first in our new format—comes out as the UK tax environment is about to undergo major changes, making it necessary for investors to maximise their tax efficiency.
From April 2023, exemptions for capital gains tax will halve, with another halving in 2024. At the same time, the income tax additional rate threshold will be lowered from £150,000 to £125,140. As these stealth tax rises bite, more investors could be drawn to tax-efficient investments. All this makes it an opportune time to consider EIS.
This report explores the current landscape of EIS and provides valuable insights into its future prospects.

This report of the Alternative Investment Market (AIM) concludes that London’s junior market has had a challenging 2022 but will recover.
After shedding around 28% of its value to its pandemic lows in March 2020, the FTSE AIM All-Share Index rose to 1,248.31 points at the end of June 2021. Now, after a difficult first half of 2022, the small-cap index has lost nearly a third of its value, making most AIM shares a bargain, especially for long-term investors.
This update of London’s junior market ultimately sees the index for small and medium size growth companies on a growth trajectory. AIM’s ambitious, fast-growing businesses will be key to Britain’s economic recovery.
You can claim up to two hours CPD for reading the Update and it is free to access here.

The government has given the Seed Enterprise Investment Scheme (SEIS) a new lease on life.
From April 2023, companies will be able to raise up to £250,000 of SEIS investment, a two-thirds increase. To enable more companies to use SEIS, the gross asset limit will be increased to £350,000 and the age limit from two to three years. To support these increases, the individual annual investor limit of £100,000 will be doubled to £200,000.
As we go to press, the government has just undertaken the third fiscal statement in as many months, against a backdrop of rising inflation and economic recession. The Autumn statement 2022 has laid out a balanced path to support the economy and return to growth.
As illustrated in this industry update of SEIS, government support for the increasingly useful tax-advantaged scheme has remained remarkably constant throughout the tumultuous period that saw three prime ministers and as many chancellors and budgets.

Momentous events in the UK continue to highlight the role of Business Relief (BR) as a valuable form of tax relief.
HM Revenue & Customs (HMRC) data has revealed that inheritance tax (IHT) brought in £557 million in September 2022. This brings the overall tax-take to £3.5 billion in the first half of the 2022/2023 tax year – a new record that far surpasses the previous high of £3.1 billion recorded in H1 2021/22, and the £2.9 billion in H2 2021/22.
IHT surpassed £6 billion in 2021/22 for the first time ever with the current tax year now set to post consecutive all-time high tax-takes. The backdrop of this meteoric rise in IHT receipts are dramatic political events that have seen three Prime Ministers at No. 10 in less than two months.
As we go to press, Jeremy Hunt, reappointed a chancellor by new Prime Minister Rishi Sunak, has delayed the announcement of the highly-anticipated medium-term fiscal plan to repair the country’s public finances.