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Commencement of EIS and VCT changes

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The Finance Act 2018, Section 14 and Schedules 4 and 5 (Commencement) Regulations, SI 2018/931, bring into force the new enterprise investment scheme (EIS) and venture capital trust (VCT) scheme amendments, aimed at encouraging long term investment in higher risk and knowledge intensive companies.

The regulations confirm that most of the changes apply from 6 April 2018, with the new risk-to-capital condition and anti-abuse rule for loans having retrospective effect from the date of royal assent (15 March 2018). The increase in the VCT qualifying holdings condition to 80% has effect from 6 April 2019

The European Commission gave its state aid approval for these changes on 5 July.

Issue: 1410
Categories: News