Investment manager Oxford Capital says investors have the opportunity to claim income tax relief for the 2009/10 tax year by investing in its new Approved EIS Fund.
The Oxford Gateway Approved EIS Fund 2009/10 allows investors to benefit from 20 per cent income tax relief on up to GBP500,000 of capital invested in the current tax year.
The fund will only be available for a limited period until 1 April 2010.
The fund also offers additional tax breaks: tax free gains on up to GBP500,000 invested per tax year; 100 per cent inheritance tax exemption after two years on unlimited amounts; and the potential to save 22 per cent capital gains tax on gains taxed at 40 per cent in the 2006-07 and 2007-08 tax years.
The fund will invest in a portfolio of entrepreneurial young businesses emerging from the UK’s science parks and university departments.
Ted Mott, chief executive of Oxford Capital, says: “Our new Approved EIS Fund gives people a tremendous means to shelter some of their capital from one of the worst tax squeezes many people can remember. Investors in our new fund gain income tax relief at 20 per cent in the current tax year and they can back some of the most promising emerging technology companies in the UK today.”
The fund is designed for private investors with a minimum investment of GBP25,000, up to a maximum of GBP2m. The fund has an initial fee of five per cent and an annual management fee of 2.5 per cent. There is a performance fee of 20 per cent of the fund’s net return after 100 per cent return of investors’ capital.