It was announced in the Autumn Budget on 22 November 2017 that the annual allowance for people investing in knowledge-intensive companies through the Enterprise Investment Scheme (EIS) will double.
The annual limit for individuals investing in knowledge-intensive companies under the EIS will be increased to £2 million on the condition that anything above £1 million is invested in knowledge-intensive companies. In respect of the amount of tax-advantaged investments a knowledge-intensive company may receive, the annual EIS will be increased to £10 million.
For EIS, the proposal is for the above changes to apply to shares issued on or after 6 April 2018.
Giao Pacey, Partner, Simkins LLP
To read the full article, with the definition of knowledge-intensive companies, click here.