It’s time to celebrate 🎉 (thanks to the EIS & VCT)

March 26, 2025


Hey there,

Before we jump in, we’re thrilled to share that we’re hosting an event with Roots Funding on The New Wave of Entrepreneurship. 

With interactive panels and a founder matching, you’ll hear from industry experts and innovators on how to adapt and thrive amidst new regulations, the rise of AI, changes in investor priorities and shifts in consumer behavior.

And the event is already 90% fully booked. Grab one of the last spots here: https://lu.ma/6p7rzlpd 🎟️

Our brilliant speakers and panelists include:

If you’re in the London area, we hope to see you there! 

📆 Date: March 31st 2025
⌚️ Time: 6.30pm-8.30pm
📍 Place: Rise, created by Barclays, 41 Luke St, London EC2A 4DP, UK

And now back to our regular programming…

  1. 🙋‍♀️ The legal question we’ve been asked most this past month by founders and startups. 

  2. 📰 Noteworthy news (and why it’s relevant to you). 

  3. ✅ One legal reminder to check off your list.

  4. 💸 Funding and award opportunities to grow your business.

  5. 🎉 Events this month that could bring value to you and your business.

1. Our Most Asked Question in February:
Can I get in trouble with my shareholders? 👎

The short answer is: yes. 😅

If you’re the company director, you can be held personally liable if you did any of the following:

  • 😯 Mismanaged the company.

  • 👀 Put your personal interests before that of the company.

  • 💷 Accepted bribes.

  • Ignored or disadvantaged minority shareholders (by unfairly diluting their shares, blocking their ability to share their shares, denying dividends, etc.).

  • 🤫 Mislead your shareholders with wrong information or hid information from them.

  • 📉 Failed to stop trading which allowed for fraudulent or wrongful trades after your company became insolvent.

  • 🤝 Mishandled a merger or the acquisition of your company.

And because company directors can be held personally liable (meaning your personal assets and finances are on the line!), we strongly encourage getting Directors’ Liability Insurance.

2. Noteworthy News:
EIS & VCT will continue until April 2035 🎉

The UK government has extended the Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) schemes by ten years, and it is now set to continue until April 2035.

These schemes offer significant tax reliefs to investors, including:

  • 30% upfront income tax relief – encouraging more individuals to invest in early-stage businesses.

  • Capital gains tax exemption – meaning investors don’t pay tax on profits from selling EIS/VCT shares, making high-risk startup investments more attractive.

  • Higher limits for R&D-intensive startups – letting investors put up to £2 million into knowledge-intensive startups, supporting businesses with high research & development costs.

Why should this matter to you? 

This extension of the EIS and VCT provides startups with greater opportunities to attract investment and supports a culture of innovation and growth within the UK's startup ecosystem.

This extension is considered a major win for UK startups and reinforces the UK’s position as a high-growth business hub. 🚀

3. Legal Reminder Of The Month:
Make sure to include the right info in your privacy policy. 🔐

73% of big businesses employ someone just to handle their data protection. 

Now if you’re a startup or an SME, you probably don’t. But it’s just as important to have a privacy policy that is strong and compliant. Because if you don’t, the ICO can fine you up to £17.5 million or 4% of your annual worldwide turnover. 🫠

What is a privacy policy? A statement that discloses the types of personal data an organisation uses, collects, stores and shares. 🔐

Here’s a reminder of the key information to include in your privacy policy: 

  1. 📑Contact information for the organisation's data protection officer or the relevant person to contact if you have any questions or concerns about the processing, usage or storage of your data, along with how to withdraw consent or file a complaint. 

  2. 👩‍⚖️ Legal grounds for processing personal data, setting out exactly the reasons that you are processing someone’s data, you can’t do some unless you have a legitimate reason.

  3. 📋Your company’s legitimate interests when these serve as the legal justification for data processing.

  4. 📊 You should also include the different types of personal data collected from sources other than the individuals themselves. Be specific about this, is it personal name, email addresses, biometric or something else. 

  5. 📩 Whether personal data will be transferred outside of the UK jurisdiction, along with the legal mechanisms used to authorise such transfers. You should definitely seek legal advice if you are transferring data outside of the UK and/or EU.

  6. ⏳ How long you intend to retain the data for, or the criteria used to determine how long the company stores personal data.

  7. 🧑‍💻 Whether automated decision-making, including profiling, is used, as well as the logic behind such processes and their potential impact on individuals.

  8. 👾 Information on additional rights granted to individuals, such as the right to object to or restrict processing, the right to request data deletion (also known as the right to be forgotten), and the right to data portability.

4. Funding & Award Opportunities 💸

💰 Innovate UK Innovation Loans: Innovate UK is offering up to £25 million in loans to micro, small and medium sized enterprises (SMEs). Innovate UK innovation loans are for highly innovative late stage research and development (R&D) projects with the best potential for the future.

5. Upcoming Entrepreneurial Events 🤓

March 27th: Women of SaaS London – Meet other women in SaaS over drinks and great conversations. Your network—this network—is here to help you thrive.

March 31st: SuLe x Roots Funding Event The New Wave of Entrepreneurship – With interactive panels and a founder matching, hear from industry experts and innovators on how to adapt and thrive amidst new regulations, the rise of AI, changes in investor priorities and shifts in consumer behavior.

April 8th: AI Breakfast by Barclays & Twin Path Ventures – Explore the intersection of AI and sustainability, discussing how artificial intelligence can drive greener innovations and tackle global environmental challenges.

April 24th: AdTech Unlocked at Google UK 2025 – Join industry leaders and experts sharing invaluable insights on future-proofing your marketing efforts. Expect an enriching experience filled with insightful presentations, engaging panel discussions, and valuable networking opportunities.

That’s all until next month. And as always, happy businessing!

– The SuLe Team