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Unprecedented EIS Funds Boosting Businesses

Figures released today by HMRC show an astonishing increase of 19% in utilization of the Enterprise Investment Scheme (EIS) and 39% increase in funding allocated to 2021/22 to an all-time peak of 4,480 and £2,305m respectively. This is a much needed bounce back from the stagnate figures of late 2020, providing a surge of optimism. The scheme provides tax breaks to investors, giving small businesses the opportunity to invest in their growth and innovation. HM Treasury continues to modernize the scheme with the addition of Inheritance Tax relief for investors and Social Investment Tax Relief. These record figures serve as a reminder of the UK's resilience in the face of the pandemic and provide optimism for success and energy when the lockdown is lifted.

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Vanguard Chief Reveals Digital Advice Mishap

Sean Hagerty, the head of Vanguard UK, has identified a gap in the UK advice sector that needs to be filled. He stressed the need for a combination of solutions as a single one would be insufficient. These solutions should involve product providers, regulators, and technology companies working together to facilitate better, lower-cost advice for investors. Hagerty is hopeful that this collective endeavor can help create an advice industry that is accessible and affordab to any size investor.

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