View from the Bridge
Venturing Into EIS and VCT Due Diligence – March 2019
In the previous edition of View From the Bridge, I outlined the first half of a presentation which I gave in Liverpool, focusing on investment into businesses operating in and around the North-West. More specifically, it addressed the recent review of Inheritance Tax (“IHT”) undertaken by the Office for Tax Simplification (“OTS”), and the potential implications, if any, which this could have on qualifying trades, as well as a brief examination into the impact which the AIM sell-off through Q4 2018 may have had on sentiment around AIM IHT products.
In this edition, I will address the second topic covered in the presentation: an examination into the effects which the Patient Capital Review (“PCR”) has had on the EIS and VCT market, and more pertinently the implications which this has had on the due diligence process in this space.