The Finance Act 2018 (Commencement) Regulations 2018
Further to The European Commission approving the Autumn Budget 2017 changes to the EIS and VCT schemes Commencement regulations for the Finance Act 2018 changes to EIS, SEIS, and VCTs have now been made. An announcement should be available on HMRC’s website shortly.
European Commission approval of changes to the EIS and VCT schemes
We have been informed that The European Commission has now approved the Autumn Budget 2017 changes to the EIS and VCT schemes without objection. The press release is here.
EIS, SEIS and SITR Statistics: May 2018
HM Revenue & Customs have published the latest Enterprise Investment Scheme (EIS), Seed Enterprise Investment Scheme (SEIS) and Social Investment Tax Relief (SITR) statistics for the 2016-17 tax year.
Finance (No.2) Bill 2017-19 – Royal Assent
Royal Assent of the Finance (No.2) Bill 2017-19 was given on 15th March 2018.
Finance (No.2) Bill 2017-19 – further update on progress
An update was published on Parliament’s website on 9th March advising that the House of Lord’s second reading of the Finance (No.2) Bill 2017-19 – the general debate on all aspects of the Bill – and all remaining stages took place on 8 March. However, Royal Assent (the final stage of a Bill’s passage through Parliament when the Bill becomes an Act) is now not expected until 15 March.
Finance (No.2) Bill 2017-19 – update on progress
The second reading by the House of Lords (and remaining stages) of the Finance (No.2) Bill 2017-19 is scheduled for 8 March 2018. Royal Assent is expected on that day, or shortly thereafter.
EIS Association Awards – Best EIS/SEIS Tax Adviser 2017
Philip Hare & Associates were proud to again receive the award for ‘Best EIS/SEIS Tax Adviser’ last night at the EIS Association’s prestigious Chairman’s Reception and Awards held at the House of Lords. It is the third year running that the firm has won the award since the firm was founded in 2014.
VCT (Exchange of Shares and Securities) Regulations update
On 30 January 2018, the amended VCT (Exchange of Shares and Securities) Regulations were laid before Parliament, and they come into force for transactions on or after 22 February 2018. Our note summarising the Regulations is here.
