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What are the Venture Capital Schemes?
The Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) are two similar tax incentivised schemes intended to promote external investment in smaller trading companies. In each case, investment provides relief from income tax and capital gains tax, with gains made on the shares being exempt from capital gains tax if they are held for three years. (This is as long as the scheme rules are not violated.) Any losses on the shares can be set against income.
The recent Budget provided increases to the qualifying investment limits available under the schemes.
From 6 April 2018:
A KIC qualifies if, at the time that it issues shares, the company is carrying out research, development or innovation and it either:
The government wants the venture capital schemes which offer tax reliefs for investors to be focused on support for companies with high growth potential. So a new qualifying condition will be a principles-based test to determine if, at the time of the investment, a company is a genuine entrepreneurial company. The company will need to have objectives to grow and develop. Pure tax-motivated investments that preserve an investor’s capital will be excluded from the schemes.
For help or advice on any aspect of your business’ finances, please call our tax team on 020 8530 0720 or email firstname.lastname@example.org.
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