EIS and SEIS Statistics: May 2023
HM Revenue & Customs have published the latest Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) statistics for period up to the 2021-22 tax year.
Tolley’s Taxation Awards 2023 – Philip Hare & Associates named as finalist (again!)
We are delighted that Philip Hare & Associates LLP have been announced as a finalist in the ‘Best Independent Tax Consultancy Firm’ category at the Tolley’s Taxation Awards 2023.
Finance (No. 2) Bill published
Further to the Spring Budget 2023, the Finance (No. 2) Bill has today been published in draft.
Spring Budget 2023
Following today’s Spring Budget, our note in respect of the venture capital tax reliefs (and certain other reliefs and measures regarding investment in business) can be found here
Change of procedure for Venture Capital Schemes Compliance Statement submissions
On 31st January, HMRC have implemented new procedures for submitting Seed Enterprise Investment Scheme (SEIS) and Enterprise Investment Scheme (EIS) Compliance Statements to HMRC (these are known as SEIS1 and EIS1 forms).
The Labour Party “Start-up, Scale-up” review.
The Labour Party has today published its “Start-up, Scale-up” review, a copy of which can be found here. The report was released after a call for evidence earlier this year on what support UK start-ups need in order to better succeed. The report comes out strongly in favour of SEIS, EIS and VCTs and has identified several areas where the tax reliefs could be improved to better assist companies. The report’s recommendations include:
Autumn Statement 2022
There were no changes to the venture capital tax reliefs announced in the Chancellor’s Autumn Statement today. The Chancellor did set out:
Change of procedure for Venture Capital Schemes Advance Assurance applications
On 27th October, HMRC implemented new procedures for receiving advance assurance applications under the Enterprise Investment Scheme (EIS), Seed Enterprise Investment Scheme (SEIS) or from a Venture Capital Trust (VCT).
