‘Patient capital’ review invites feedback on UK tax reliefs

HM Treasury is seeking feedback on the cost effectiveness of tax relief measures to promote entrepreneurship as part of a consultation on how best to provide funding to help British start-ups become “world-leading unicorns.”

The UK leads Europe in the creation of so-called unicorns — innovative firms valued at more than $1 billion — but lags behind the US and China, the Treasury said in an August 1 statement. A new National Investment Fund will address a £4 billion “funding gap” between American and British firms, the Treasury said …

The consultation is part of a “patient capital” review expected to report in the autumn on how best to help innovative firms obtain long-term financing. Read more:

My news story for Tax Analysts, August 2 (paywall)

Innovate UK news release August 3