The EIS has cost the government £3bn in tax relief, so why has it become more generous? February 27, 2019 The enterprise investment scheme (EIS) celebrates its silver jubilee this year. Announced by the then chancellor Ken Clarke in the Autumn Budget in 1993, the scheme was launched at the beginning of 1994. The benefits of the EIS have remained generous – in fact, they’ve become more generous. Until April 2011, the up-front tax relief [...]
Soft drinks maker Nichols boosts profits and payout as Vimto sales grow in 110th year February 27, 2019 Soft drinks maker Nichols boosted profits and hiked investor payout as Vimto proves popular in its 110th year. The figures Pre-tax profit grew four per cent to £31.8m for the full year compared with 2017, while group revenue rose seven per cent to £142m. Read more: Vimto adds some fizz to owner Nichols The final dividend for [...]
Poundland launches red and blue passport covers before Brexit February 27, 2019 There is no love lost between Leavers and Remainers over Brexit, but the two sides could come to blows in the aisles of Poundland as the retailer releases red and blue passport covers. The Brexit-inspired passport covers mean fierce Brexiters or lamenting Remainers can cling to the preferred colour of their choice even after blue [...]
Credit check service Experian abandons £275m Clearscore merger after watchdog investigation February 27, 2019 Experian has backed down over its £275m merger with credit rating checker rival Clearscore after a watchdog warned it could harm competition in the sector. The firm said it did not believe the Competition and Markets Authority (CMA) would approve the acquisition of the rival and has decided to abandon the proposal. Read more: Experian reports [...]
Interserve improves investor stake in rescue deal as losses narrow to £111m February 27, 2019 Interserve shares fell 14 per cent this morning as it updated its rescue refinancing deal to hand more control to shareholders, as well as confirming 2018 losses of £111m. The troubled outsourcer will hope the concessions are enough to change the minds of directors at its rebellious lead shareholder, US hedge fund Coltrane Asset Management, [...]
If you’re stuck on which tax-efficient investment scheme to go for, let’s weigh up your options February 27, 2019 At first glance, venture capital trusts (VCTs) and enterprise investment scheme (EIS) funds seem like peas in a pod. They are both government-backed tax wrappers, and they both let you invest in risky young companies. They also come with the same 30 per cent income tax perk, meaning that if you invested £10,000, you would [...]
Metro Bank shares plummet a further 20 per cent after dramatic £350m cash call February 27, 2019 Metro Bank shares have continued to plunge this morning after its dramatic results release and revelations of a regulator probe. The challenger bank rushed out its full year results last night in a bid to ease concerns after announcing a plan to tap up investors for a further £350m following an accounting error last month. [...]
The EIS evolution: How will incoming changes affect investors? February 27, 2019 The enterprise investment scheme, or the EIS, is a shape-shifter. Unveiled by the government back in 1993, the scheme was designed to help small, promising companies access finance by offering generous tax breaks to investors (you can claim income tax relief of 30 per cent when you buy shares in EIS-eligible companies). The EIS has [...]
Marks & Spencer investors suffer dividend blow as retailer nets food delivery service in £750m Ocado venture February 27, 2019 Shareholders hammered Marks & Spencer’s shares this morning as it became clear the retailer plans to hit up investors to fund a £750m food delivery venture with Ocado. M&S’s stock dropped 9.2 per cent to 303p as it confirmed plans to raise £600m through a rights issue as well as knocking down shareholders’ dividend. The [...]
Why you should blame personality tests for the psycho in your office February 27, 2019 Most of us have, at some point, encountered a Myers-Briggs personality test. Katherine Cook Briggs began her personality research over a century ago after an awkward dinner party, which just goes to show the lengths that some people will go to avoid small talk. Of course, personality tests can be useful, but the corporate world [...]