What’s on offer?
The EIS Association (EISA) is the official trade body for the Enterprise Investment Scheme. EISA is a highly effective not for profit organisation which exists to aid the provision of capital to UK small and medium-sized enterprises (SMEs) through the Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS). Click the link for further information about EIS or SEIS.
EISA works closely with HM Treasury, HM Revenue and Customs, Government Ministers, MPs and the FCA to enhance the EIS and promote the benefits of the scheme to investors and companies using EIS/SEIS and their respective advisers.
Who’s it for?
HMRC publish guidance for investors and companies, which provides further information www.hmrc.gov.uk/eis/. For SEIS www.hmrc.gov.uk/seedeis/index.htm. Most trades qualify although there are certain exceptions – please see the excluded activities on HMRC’s website http://www.hmrc.gov.uk/manuals/vcmmanual/index.htm. However, whilst some excluded trades are clearly cut and dried such as property, some other activities do qualify although they would appear not to on first glance so it is worth consulting an experienced professional if you are in any doubt. A company can carry on some excluded activities, but these must not be ‘substantial’ part of the company’s trade. HMRC take ‘substantial’ to mean more than 20 per cent of the company’s trading activities.
For more information, click here
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