Finance Bill 2017
The first draft of the 2017 Finance Bill was published on 5 December 2016. As announced at the Autumn Statement on 23 November there are measures designed to smooth some of the technical difficulties of the SEIS, EIS and VCT rules. Our summary of these changes and the announced consultation taking place regarding the advance assurance process can be found here.
VCTs – annual returns of investments
It was today announced at a meeting held at the AIC, that HMRC are proposing a number of changes to the annual ‘regulation 22’ return required for VCTs.
VCTs: Finance Bill amendments to allow VCTs to hold short term deposits
Amendments are being made to the current Finance Bill to allow VCTs to hold short term deposits as part of their non-qualifying holdings. The following links are to:
New guidance on Finance (No.2) Act 2015 EIS and VCT rules published
HMRC have published their guidance on the on the new EIS and VCT rules introduced last year.
Finance Bill Summer 2015
The Summer Finance Bill was published on 15 July 2015. It includes a number of changes to the EIS and VCT rules, mainly to bring the legislation into line with the EU State Aid Risk Finance Guidelines which were revised last year. Further details can be found at EIS Summary and VCT Summary.
