European Commission Approves Extension to EIS, VCT Regimes Under UK State Aid Regime
We are pleased to announce that the European Commission has released its response to the UK’s notification in respect of the prolongation of the Enterprise Investment Scheme (EIS) and the Venture Capital Trust scheme (VCT). The full response can be found here.
Updated HMRC guidance on the financial health requirement
HMRC have updated their guidance in relation to the financial health requirement for SEIS, EIS and VCT purposes and the link to the update guidance is below: –
Finance (No. 2) Bill published
Further to the Spring Budget 2023, the Finance (No. 2) Bill has today been published in draft.
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).
OTS Capital Gains Tax Review
The Office of Tax Simplification (OTS) issued its second report on simplifying practical, technical and administrative issues with the Capital Gains Tax (CGT) system. The scope of the report considers a range of key CGT issues and includes comments on the interaction with CGT reliefs under the SEIS and EIS and how the schemes function administratively.
Business Secretary launches consultation for new UK subsidies system
Business Secretary, Kwasi Kwarteng, has today published a ministerial statement and launched an 8 week consultation on a proposed new subsidy control system following the UK’s departure from the EU.
Finance Bill 2020 – Royal Assent
Royal Assent of the Finance Bill 2020 was given on 22 July 2020.
The Future Fund: EIS and SEIS relief – Finance Bill 2020
The Government has tabled a further series of amendments to the Finance Bill 2020 ahead of its report stage this week.
