Business minister Matt Hancock MP wrote in City AM to celebrate the launch of our Nation of Angels report.
“Today the UK Business Angels Association and the Centre for Entrepreneurs are publishing a report on the state of angel investing in the UK. It’s an important commentary on how we’re doing.
In particular, the report highlights how tax changes have supported British angels to spread their wings. In 2011, we increased income tax relief through the Enterprise Investment Scheme from 20 to 30 per cent, and we introduced the Seed Enterprise Investment Scheme (SEIS) in 2012 with income tax relief of 50 per cent. The report finds that nine out of 10 angels now use these incentives to invest in early stage companies, and there’s been a rapid increase in investment through SEIS. The report notes that these schemes “have encouraged angels to keep investing in turbulent economic conditions”.
Read the article here.