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 12-18 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 Knowledge Intensive (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: 12-18 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 2025
Target return: £2 for every £1 invested

Request Information Pack

Tax reliefs

Under current legislation an EIS entitles Investors to five generous tax incentives. Tax benefits depend on the individual circumstances of each investor and may be subject to change in the future:

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. If you are unsure of your tax situation you should seek professional advice from a qualified tax adviser.

Investment Strategy

Calculus backs the innovators, the experts, the game changers. We invest in entrepreneurial businesses with growth potential, across the fastest growing sectors in the UK:

Technology

The UK is Europe’s number one technology nation, having raised double the amount of VC funding of any European market in 2022*. 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 healthcare sector holds the solutions to some of today’s most urgent global challenges. From fighting pandemics to creating treatments to further advance patient care, the UK’s internationally renowned private, public and academic organisations are paving the way to new scientific discoveries.

Within the healthcare sector we typically invest in diagnostics, pharmaceutical services and drug discovery companies with existing partnerships with large pharma.

Entertainment (Calculus EIS Fund only)

The creative industries in the UK have grown at more than 1.5x the rate of the wider economy over the past decade**. UK creative content companies have an established track record of producing award winning, commercially successful films and television shows watched by millions worldwide.

The Calculus EIS Fund targets

A diverse portfolio with a minimum of six companies
Companies with strong and adaptable management teams, aligned to our growth plans and exit timeframes
More developed companies rather than early stage start ups, with established products and proven business models

*Tech Nation Report 2022

**www.gov.uk June 2023

Please take the time to read through the Key Risks