DSW Ventures says proposed Founders’ Relief excludes most UK university spin-outs

• DSW Ventures warned HM Treasury’s proposed Founders’ Relief would exclude many strategic technology founders, particularly those leading university spinouts.
• The proposal offers a 10% capital gains tax rate on qualifying disposals, subject to a £10 million lifetime cap.
• A 25% initial ownership threshold would exclude founding teams; the £10 million turnover requirement would disqualify many biotech businesses exiting before commercialization.
• Five-year holding requirements and three-year growth tests risk conflicts between founders seeking tax relief and other shareholders pursuing strategic sales.
• The firm urged relief tied to shareholder value creation in strategically critical sectors, available to entire founding teams regardless of revenue or timing.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. DSW Venture Capital LLP published the original content used to generate this news brief on October 29, 2026, and is solely responsible for the information contained therein.