Budget 2014 — SEIS, EIS and VCT changes

By Nick Burt

In his Budget, the chancellor of the exchequer has announced a number of changes that will affect the Seed Enterprise Investment Scheme (SEIS), the Enterprise Investment Scheme (EIS) and venture capital trust (VCT) schemes.

The headline points are that: the SEIS is going to be made permanent; EIS and VCT scheme rules are going to be changed; and further consultations are expected on EIS and VCTs.

When the SEIS was first introduced, the scheme was only intended to be temporary and was going to stop applying to shares issued after 6 April 2017. However, the chancellor has now announced that legislation will be introduced in the Finance Bill 2014 to make the SEIS permanent. The current capital gains tax 50 per cent relief for re-investing gains in SEIS shares will also be made permanent…

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