Chiene + Tait will service a dedicated business angel helpline, providing advice to Scottish angel syndicates on how they can best structure any potential investments and maximise available tax reliefs.

For the last year, the accountancy firm ran an initial helpline trial where they assisted Linc’s members on a range of matters including pre-deal structuring questions, advice on the enterprise investment scheme (EIS) and seed enterprise investment scheme (SEIS) and assistance on other HMRC matters relating to potential angel investments.

During this phase the helpline was contacted by over 50% of Scottish-based angel syndicates wanting to access tax advice and other information to enable them to maximise their investment.

Going forward the firm says the helpline will remain focused on ‘de-mystifying’ the whole process of becoming a business angel by promoting the tax advantages that come through this form of investment. Angel investment syndicates will be able to contact the service where they will get direct advice from Chiene + Tait tax experts.

Neil Norman, Chiene + Tait entrepreneurial partner, said: ‘This support vehicle is helpful to business angels and is also beneficial in encouraging more investment into Scotland’s SMEs.  By offering a service which draws on our experience to help investment deals complete smoothly with maximum tax reliefs, we can support the existing business angel community in Scotland and also promote this form of investment to other high net worth individuals.’