Huel and Moneybox founders head to No 10 as Reeves courts scale-ups

cityam12-09

Founders welcomed the Treasury’s plan to consult on wider reforms The bosses of Huel and Moneybox were among dozens of founders headed to No10 on Monday evening, as the government wooed scale-ups with...

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14:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cityam.com/huel-and-moneybox-founders-head-to-no-10-as-reeves-courts-scale-ups/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Founders welcomed the Treasury’s plan to consult on wider reforms The bosses of Huel and Moneybox were among dozens of founders headed to No10 on Monday evening, as the government wooed scale-ups with...</p>\n\n<a href=\"https://www.cityam.com/huel-and-moneybox-founders-head-to-no-10-as-reeves-courts-scale-ups/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EMI","symbol_name":"Encore Medical 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evening, as the government wooed scale-ups with a sweeping package of tax and investment reforms unveiled in the Budget.Rachel Reeves used the Downing Street reception to promote what she claimed was the most significant overhaul of entrepreneur incentives in more than a decade.These include changes to the Enterprise Management Incentive (EMI) and Enterprise Investment Scheme (EIS), billions in new backing for science and tech companies, and steps to cut red tape for small firms.The event came as ministers attempt to convince founders that the UK remains a competitive place to build high-growth companies at a time when rival hubs are moving aggressively to attract investment.\n\nReeves looks to scale-ups for growthReeves said the government was “overhauling the rulebook”, and making it easier for companies to hire, raise capital and expand.\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAlex Depledge MBE, who will continue as the UK’s entrepreneurship adviser until 2026, said the reforms marked “a real step-change”, but stressed scale-ups needed a system that “backs the people willing to take risks”.Among the measures, the government has doubled eligibility for EMI, extended option lifespans to 15 years and increased employee headcount caps.Motorway co-founder Tom Leathes said the changes would allow scale-ups to “compete for world-class talent much longer into the journey”\n\nFounders also welcomed the Treasury’s plan to consult on wider reforms to how the tax system supports entrepreneurs, while investors said clarity was needed as the sector adjusts to the government’s decision to cut venture capital trust (VCT) relief from 30 per cent to 20 per cent from next year.This move was described by Hargreaves Lansdown’s Emma Wall as a “blow” for investors and early-stage 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