What the Budget changed for raising money

The Budget on 28 October 2026 made no change to the limits of the Seed Enterprise Investment Scheme (SEIS), the Enterprise Investment Scheme (EIS) or Venture Capital Trusts. The Government said "technical improvements" will make the schemes simpler to use, that HMRC will work with industry to modernise advance assurance, and that it will act on excessive fees, working with the FCA to make fees clearer. No details have been published yet.

For a company raising money from investors who want SEIS or EIS tax relief, the current rules and limits still apply. Watch for the details in the Finance Bill.

The Budget says the claim notification form for R&D tax relief will be removed from 1 April 2027, so companies will no longer need to tell HMRC in advance that they plan to claim. The additional information form will be simplified from autumn 2027. The rates of relief are unchanged. This is not law yet.

Until the change is law, the current rules on claim notification still apply.

The Budget says the main-rate first-year allowance will rise from 40% to 50% for spending from 1 January 2027, and the main-rate writing-down allowance will fall from 14% to 12% from April 2027. These are not law yet.

Capital allowances let a business take part of what it spends on equipment off its taxable profits. A bigger first-year allowance means more tax relief in the first year on some equipment, which changes the after-tax cost of buying it outright or on hire purchase.

The Budget gives the British Business Bank £5 billion more capacity, taking it to £30.6 billion. The Government says this lets the Bank deliver a £6.5 billion expansion of the Growth Guarantee Scheme, £165 million for community lenders, £1.4 billion to invest in equity funds and £450 million for a new venture debt product. The Bank is also to design the next Nations and Regions Investment Funds with mayors and the devolved governments.

None of the new products has opened yet, and no terms or launch dates have been published. Until they are, the routes stay as they are.

HMRC and HM Treasury published the e-invoicing roadmap on 28 October 2026. From 1 April 2029, businesses and other bodies registered for VAT, including charities and public bodies, will need to send and receive VAT invoices as e-invoices, unless an exemption applies. Businesses that are not VAT-registered do not have to, but can choose to. The full rules on scope and standards are due between October 2027 and April 2028, and the main law is expected to pass in spring 2027.

Electronic invoices are dated and easy to check, which could make invoice finance and claims for late payment simpler to back up. Nothing changes for now.

The Commercial Payments Bill had its third reading in the House of Lords on 20 October 2026 and its first reading in the House of Commons on 21 October. No date has been set for its second reading in the Commons. It is not law yet.

When the bill was introduced, the Government said it would cap payment terms for large firms at 60 days and make late-payment interest mandatory. Until it passes, the current rules on late-payment interest and compensation apply.