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HMRC have published guidance to explain the changes to enterprise investment scheme (EIS) procedures announced in the Budget.
The new measures affect the processing of advance assurance requests and forms EIS1 compliance statements in respect of investments made on or after 6 April 2015. The Revenue will no longer process such requests in respect of companies that:
HMRC have published guidance to explain the changes to enterprise investment scheme (EIS) procedures announced in the Budget.
The new measures affect the processing of advance assurance requests and forms EIS1 compliance statements in respect of investments made on or after 6 April 2015. The Revenue will no longer process such requests in respect of companies that:
- are more than seven years old and have not received a risk finance investment in the past; and
- have received more than £10m risk finance investment funding (formerly known as risk capital investment funding).
The tax department’s guidance sets out the circumstances in which advance assurances may no longer be given and the information that will be requested to support forms EIS1, along with the reasons why changes have been made.
The information also explains how the qualifying status of investments made by venture capital trusts on or after 6 April may be affected.
