Calculus has launched its third Knowledge Intensive Enterprise Investment Scheme (EIS).
The EIS, the first Knowledge Intensive fund to launch post budget, will give investors the opportunity to support early stage UK companies driving innovation. The investment provider said by offering tax free capital growth and up to 30% income tax relief, approved EIS funds are an attractive and generous tax efficient product, helping to offset some of the increased demand on taxpayers following the Budget.
Open until the 4th of April 2025 the fund will aim to return £2 tax-free for every £1 invested by investing in a portfolio of entrepreneurial tech and healthcare companies.
John Glencross, chief executive and co-founder of Calculus Capital, said: “This approved fund will not only enable easier tax planning but, in line with the Chancellor’s Budget, give meaningful support to a new generation of UK companies driving the digital revolution forward and improving healthcare whilst providing purposeful investors the opportunity to grow their own wealth.”
An advantage of being an approved fund is that investors can claim income tax relief in the tax year the fund closes or carry it back to the previous tax year. By contrast, investors in ordinary unapproved EIS funds must claim their tax relief at the point that the fund invest in the underlying companies which may cross multiple tax years and be more challenging for tax planning, Calculus said.
