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11 June 2012
Employee threshold increased to fewer than 250
The government has received state aid approval from the European Commission to increase the thresholds for the maximum size of a qualifying company for the enterprise investment scheme (EIS) and venture capital trust (VCT) scheme.
The revamp means that
- the employee limit is increased to fewer than 250 at the time of investment;
- the gross assets may be no more than £15m immediately before the relevant investment, and no more than £16m immediately after investment; and
- the amount a company may receive in the 12-month period ending with the date the relevant investment is £5m.
The changes will take effect in respect of investments made on or after 6 April 2012, subject to royal assent.
Katharine Arthur, partner at accounting company MHA MacIntyre Hudson, said, ‘The changes mean that more companies now qualify for the schemes and, in turn, will create more opportunities for investors to support businesses that may otherwise have struggled to secure funding.’
