Lobby group urges government to relax EIS rules

The Enterprise Investment Scheme Association (EISA) has said the rules governing tax-efficient enterprise investment schemes (EISs) should be eased following the Brexit vote to boost investment in early-stage companies. According to the lobby group, it can take up to 16 weeks for companies to gain “advance assurance” or approval from HM Revenue & Customs to qualify for raising funds under the scheme.

Commenting on the appeal, Mark Brownridge, EISA director-general, says: “We need to try and avoid these delays in terms of gaining advance assurance … Some of the larger [EIS providers] are champing at the bit to tell investors about the investments they have in their portfolios.”

Whether you are looking to save Income Tax, Capital Gains Tax, Inheritance Tax, or all three, an investment in a portfolio of EIS and Seed Enterprise Investment Scheme (SEIS) shares is well worth considering, as long as you are fully aware of the risks. To find out more, read our article: EIS – A Legal & Ethical Tax Haven

At Beavis Morgan we work across a broad range of sectors, advising entrepreneurial people with business ideas and an appetite for financial growth. To find out more about EIS and SEIS investments, as well as other tax planning opportunities, contact Steve Govey or your usual Beavis Morgan Partner.