TAX experts at Chiene + Tait have launched a helpline for angel investors which they hope will encourage more wealthy people to invest in small and medium sized enterprises in Scotland.
The accountancy firm said the helpline has been designed to help demystify the process of becoming an angel investor by providing information on the tax breaks that are available.
“By offering a service which draws on our experience to help investment deals complete smoothly with maximum tax reliefs, we can support the existing business angel community in Scotland and also promote this form of investment to other high net worth individuals,” said Chiene + Tait entrepreneurial partner Neil Norman.
The service is available for members of the LINC Scotland angel support organisation, who will not be charged to access the helpline.
Chiene + Tait has launched the service after running a one year trial during which it helped LINC members with questions on subjects including how to structure potential deals and the reliefs available under programmes such as the Enterprise Investment Scheme.
Mr Norman said: “We were contacted by over 50 per cent of Scottish-based angel syndicates who successfully accessed valuable tax advice and other important information to enable them to maximise their investment.”
David Grahame, executive director of LINC Scotland said the Business Angel Helpline has provided a valuable resource for its membership. Chiene + Tait’s involvement will help promote the benefits of angel investing
LINC Scotland has around 1,400 members, most of whom belong to syndicates which back deals.
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