UK - Hotbed launches £10m EIS portfolio

The portfolio's structure allows investors to make a potential saving of 22% for CGT paid in the two years to April 2008, as well as receive an income tax relief of 20% set against the value of the initial investment and other EIS-related advantages. To receive the CGT benefit, the investors have to invest an equal amount in the new portfolio before it closes at the end of March.

Hotbed plans to raise up to £10m for the portfolio and to invest £1.5-2m per transaction in up to seven companies. The syndicate will have two years to invest in companies rather than the typical 12 months for regular EIS funds.

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