ARTICLE · 27 MARCH 2014

Budget 2014 – SEIS, EIS And VCT Changes

Nabarro LLP

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In his Budget the Chancellor of the Exchequer has announced a number of changes which will affect SEIS, EIS and VCT schemes.

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Summary and implications

In his Budget the Chancellor of the Exchequer has announced a number of changes which will affect SEIS, EIS and VCT schemes.

The headline points are that:

the SEIS is going to be made permanent;
EIS and VCT scheme rules are going to be changed; and
further consultations are expected on EIS and VCTs.

SEIS will be permanent

When the SEIS was first introduced, the scheme was only intended to be temporary and was going to stop applying to shares issued after 6 April 2017. However, the Chancellor has now announced that legislation will be introduced in Finance Bill 2014 to make the SEIS permanent. The current capital gains tax 50 per cent relief for re-investing gains in SEIS shares will also be made permanent.

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