Calculus EIS & KI EIS Fund

What is EIS?

The Enterprise Investment Scheme (EIS) is designed to help smaller higher-risk trading companies raise finance by offering a range of tax reliefs to investors who purchase new shares in those companies. By investing in the Calculus EIS Fund or the Calculus Knowledge Intensive EIS Fund, Calculus will invest monies in such companies on your behalf. Each investor in the Calculus EIS Fund or the Calculus Knowledge Intensive EIS Fund will have at least six entrepreneurial, EIS Qualifying Companies in their portfolio.

Calculus EIS Fund

The investment strategy of the Fund is to invest in technology, healthcare and entertainment companies. This Fund is classified as an unapproved EIS Fund, which means the Fund can invest across a timescale of its choosing (the target time for full investment for the Calculus EIS Fund is 12-18 months). The tax relief for this Fund is granted at the time the underlying investment is made (with a separate EIS3 certificate per investment).

Calculus Knowledge Intensive (KI) EIS Fund – CLOSED

This is a HMRC approved EIS Fund, and its major advantage is that investors can claim income tax relief, on the full amount invested in the fund, in the tax year the fund closes (or they can carry it back to the previous tax year). The tax relief is claimed using only one tax certificate called an EIS5.
Knowledge Intensive EIS Funds are required to invest at least 80% of their capital in Knowledge Intensive Companies. Typically, a Knowledge Intensive Company is an EIS qualifying company which is carrying out research & development (R&D) or innovation to create intellectual property (IP). This Fund will focus on the knowledge intensive sectors of healthcare and technology.

Tax reliefs

Under current legislation an EIS entitles Investors to five generous tax incentives. Tax benefits depend on the individual circumstances of each investor and may be subject to change in the future:

• Income tax relief at 30%, which can be taken in the tax year the Fund makes its investments or carried back to the previous tax year
• Tax free capital gains on investments within the Fund
• Full inheritance tax relief provided the investments have been held for two years and are held at the time of death
• Full capital gains tax (CGT) deferral of tax due on other capital gains for the life of the investment
• Loss relief which can be taken as a deduction against income or as a capital loss and can give total tax relief up to 61.5% for the tax year the loss occurred or the preceding year

The information given above provides only a summary of the tax benefits. The rates shown are based on current UK legislation which could change in the future, possibly retrospectively. If you are unsure of your tax situation you should seek professional advice from a qualified tax adviser.

Calculus EIS Fund Key Features

• Minimum Investment Amount: £25,000
• Deployment target: 12-18 months from next close date
• Target return: £2 for every £1 invested

Calculus Knowledge Intensive EIS Fund Key Features

• Minimum Investment Amount: £25,000
• Close Date: CLOSED
• Target return: £2 for every £1 invested

Please take the time to read through the Key Risks

We would be delighted to answer any queries you have. Please contact the Sales and Marketing team on 020 7493 4940.