Market leading insight for tax experts
View online issue

New EIS and VCT limits receive state aid approval

printer Mail

The government has received EC state aid approval for changes announced at Budget 2012 to the Enterprise Investment Scheme and the Venture Capital Trust scheme, increasing:

  • the employee limit from fewer than 50 employees to fewer than 250 employees at the time of investment;
  • the gross assets limits from no more than £7m to no more than £15m immediately before the relevant investment, and from no more than £8m to no more than £16m immediately after investment; and
  • from £2m to £5m the amount which any company may receive in the 12 month period ending with the date the relevant investment is made.

The changes, at schedules 7 and 8 to the Finance Bill, will take effect for investments on or after 6 April 2012, subject to the legislation receiving Royal Assent and to the making of a Treasury appointed day order shortly after Royal Assent, HMRC said.