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New investment scheme for start-ups brings tax relief for investors
From April 6, 2012, a new Seed Enterprise Investment Scheme was introduced targeting start-ups looking for investments of up to £150,000, writes Wilkins Kennedy LLP Chartered Accountants & Business Advisers
Individual investors looking to support start-up companies could benefit from a number of tax reliefs introduced in the 2012 Budget, geared to support fledgling businesses.
Investors and larger companies will already know about the existing EIS (Enterprise Investment Scheme) designed for both new and established businesses, although the qualifying figures changed in the March 2012 Budget, moving from a maximum gross asset size of £7 million before investment with 50 employees to £15m before investment with 250 employees.
The new Seed Enterprise Investment Scheme (SEIS) is specifically designed to help early-stage companies to raise equity finance by offering a range of tax reliefs to individual investors.
The key points are as follows: • SEIS is for smaller companies with 25 or
fewer employees and gross assets of up to £200,000.
• Income tax relief worth 50% of the amount invested may be claimed by individual investors with a stake of less than 30% in such companies, including directors who invest in their companies.
• The scheme will apply to an annual amount of £100,000 investment per individual investor with a stake of less than 30% in such companies.
• The scheme will provide for relief within an overall cumulative tax favoured investment limit of £150,000 for the company.
• The scheme will provide for an exemption from CGT on gains on shares within the scope of the SEIS, and on gains realized from disposals of assets in 2012/13, where the gains are reinvested through the new SEIS in the same year.
The scheme is not without the usual rules and regulations – the company has to meet a number of requirements to qualify for the scheme.
If you think you may qualify and would like to know more, contact your local Wilkins Kennedy office or visit the website.
Details:
Winchester 01962-852263 Romsey 01794-515441 Egham 01784-435561 Reading 0118-9512131 Amersham 01494-545570 Guildford 01483-306318
www.wilkinskennedy.com
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THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – JUNE 2012
www.businessmag.co.uk
www.port.ac.uk/pbs
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