ARTICLE · 06 DECEMBER 2011

EIS / VCT / SEIS – Update From The Autumn Statement

Eversheds Sutherland

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Summarised below are the changes announced in the Chancellor’s autumn statement that relate to EIS, VCT and the introduction of the new seed enterprise investment scheme.

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Stephen Hill

Summarised below are the changes announced in the Chancellor's autumn statement that relate to EIS, VCT and the introduction of the new seed enterprise investment scheme.

Seed enterprise investment scheme ("SEIS")

This scheme is designed to encourage investment in new start-up companies and will provide income tax relief of 50% to individuals who invest (up to a maximum of £100,000) in shares in "qualifying companies". In addition any gains realised on disposal of an asset in the tax year 2012/2013 and reinvested in a SEIS in the same year shall be exempt from capital gains tax.

The details of the SEIS have not yet been announced, other than there being a cumulative investment limit for companies of £150,000.

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