Calculus EIS & KI EIS Fund

Enterprise Investment Schemes

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 around 15 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 KI EIS Fund

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.

Calculus EIS Fund Key Features

Minimum Investment Amount: £25,000
Deployment target: 15 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: 5 April 2023
Target return: £2 for every £1 invested

Request Information Pack

Request Calculus EIS Information Pack

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Tax reliefs

Under current legislation the Calculus Capital EIS Fund entitles Investors to five generous tax incentives *:

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. These tax benefits depend on individual circumstances. If you are unsure of your tax situation you should seek professional advice from a qualified tax adviser. Tax rules and regulations can be subject to change.

Investment Strategy

We invest in entrepreneurial businesses with growth potential, across the fastest growing sectors in the UK. The portfolio will be focused around the following:

Technology

The UK is Europe’s number one technology nation, with tech VC investment third in the world, only behind the USA and China. This is largely due to world-class universities, a flexible labour market and investor capital supported by schemes such as EIS.

This hotbed of entrepreneurial activity and innovation presents a strong investment opportunity.

Within technology we predominantly look for companies providing software as a service (SaaS) to an already established client base.

Healthcare

The UK is in a good position to continue as world leaders in healthcare companies. With top universities, government R&D spend, charitable support and our National Health Service which is a unique institution, the sector is thriving and making significant input into worldwide development.

Within the healthcare sector we will predominantly look for companies within diagnostics, pharmaceutical services and drug discovery.

Entertainment (Calculus EIS Fund only)

The UK is a global force in creating content for the screen industries, with world-class infrastructure and talent. UK creative content companies have an established track record of producing award winning, commercially successful films and television shows watched by millions worldwide and are ideally placed to benefit from this growth in content expenditure.

The Calculus EIS Fund will

Invest in a portfolio of a minimum of five companies selling successful products or services
Target companies with proven management teams, profits or a clear path to profitability and ability to meet target IRR of 20%
Invest in more developed companies so failure rates should be lower and time to exit is shorter