EIS

High-net-worth clients on the hunt for tax efficient savings vehicles following the Budget clampdown on maximum investment plans (MIPs) are likely to turn to enterprise investment schemes (EIS) and venture capital trusts (VCTs), the Prudential has predicted....

Bramdean's Nicola Horlick is launching a fund to raise as much as £2m for film development projects.

Chancellor George Osborne has announced a clampdown on venture capital trusts (VCTs) and enterprise investment schemes (EIS') purely set up to access tax reliefs.

Nicola Horlick, chief executive of Bramdean Asset Management, has joined forces with two 3i alumni to launch a new investment business.

ALTERNATIVES

The owner of Glasgow Rangers FC has admitted he used the payment for future season ticket sales from Ticketus, the company backed by Octopus Investments' Protected EIS, to complete the takeover of the club.

Octopus Investments has said it is working with the administrators of Glasgow Rangers after one of its investments was caught up in the debacle.

Wealth manager and stockbroker WH Ireland has launched a UK EIS Growth fund in partnership with Harcourt Capital, seeking to raise an initial £10m.

TAX PLANNING

Chancellor George Osborne has unveiled a new enterprise investment scheme (EIS), giving investors 50% tax relief for investing in business start-ups.