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Finance (No.2) Bill 2017-19 – update on progress

28 February 2018

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

7 February 2018

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

2 February 2018

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.

Tax-advantaged venture capital schemes – streamlining the advance assurance service – consultation response

On 1 December 2017, HMRC issued their response to the consultation that took place in relation to the advance assurance service for the tax-advantaged venture capital schemes (SEIS, EIS, VCT and SITR). The consultation was announced at Autumn Statement 2016 and closed on 31 January 2017. HMRC published a summary of responses on 20 March 2017 and have now provided their full response following a number of new measures announced in the Autumn Budget 2017.

Venture Capital Schemes: risk-to-capital draft HMRC guidance

4 December 2017

HMRC have today published their draft guidance in relation to new the ‘Risk-to-capital’ condition, which is a ‘gateway test’ to be introduced for SEIS, EIS and VCT investments, as set out in the draft Finance Bill 2017-18 which was published on 1 December 2017.

VCT (Exchange of Shares and Securities) Regulations – consultation ending 2 January 2018

4 December 2017

On 1 December, HMRC published draft amendments to the VCT (Exchange of Shares and Securities) Regulations.  Power to amend the Exchange Regulations was given in the Finance Act enacted in November.

Autumn Budget 2017

22 November 2017

Our note in respect of the venture capital tax relief schemes following today’s Budget can be found here

Second Finance Bill of 2017

8 September 2017

A number of amendments to the venture capital tax relief regimes were originally announced in the 2016 Autumn Statement, and included in the draft 2017 Finance Bill. All of those provisions were dropped from the truncated Finance Act, which was passed prior to the General Election.

Expert, Impartial Advice

Tax relief schemes are a key part of the UK Government's strategy to help small and growing businesses raise much-needed capital. We advise businesses looking to raise money under these schemes and can deal with HMRC on your behalf.