Optos backers wait on appeal over tax relief

Investors of Optomap developer Optos are reportedly up in arms over the Inland Revenue’s potential decision to classify the business as a leasing company rather than a technology firm.

Reports in the Scottish business press claim that investors – including the owners of the Stagecoach transport group Brian Souter and Ann Gloag –  could be left millions of pounds out of pocket as backers of finance companies are not eligible for tax relief.

Scotland on Sunday (June 4) said that investors pumped £25m into the company, which floated earlier this year for £165m. Optos has expanded worldwide, enjoying particular success in the US with over 2,000 retinal scanners installed.