Chancellor of the Exchequer Philip Hammond is expected to use next Monday's Budget to launch a feasibility study into the use of pensions to fund UK patient capital opportunities.
According to Sky News, the study will explore how defined contribution schemes could pool investments in patient capital. Hammond's Autumn Budget and Patient Capital Review last November saw the introduction of the new 'principles-based' test on tax-efficient investments, which aims to ensure investment is focused on companies seeking long-term growth, and new rules intended to focus investment on so-called 'knowledge-intensive' businesses. The Treasury also increased the annual Enterprise Investment Scheme investment limits for investors to £2m - as long as monies invested above £1m ...
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