Wed, Sep 2, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

EIS and VCT schemes sabotaged by EC negotiations accountancy firm claims

Thursday, March 22, 2012

Beverly Chandler, Opalesque London: Chilton Taylor, head of capital markets at accountancy firm Baker Tilly believes that any company which has received assurance that it qualifies for investment under the EIS or by VCTs which was given prior to 5 April 2012 should check that assurance still applies if investment is made after this date.

"As mentioned in the last budget the EIS annual investment limit will be increased from 6 April 2011 to £1 million ($1,583,927) per individual. The size limits on a qualifying company are raised to those with fewer than 250 employees and gross assets £15 million ($23,758,913) pre-investment with £16 million ($25,342,841) post investment, which has been subject to EU state-aid approval" Taylor says.

"But, in order to make the above palatable to the EU because this legislation falls within EIS State Aid provisions, the annual investment limit for a qualifying company will now be £5 million ($7,919,637) not the £10 million ($15,839,275) as said by the chancellor this time last year. More worryingly, we are told by HMRC that this £5 million ($7,919,637) annual limit additionally applies to funds deemed to have been raised by VCTs prior to 5 April 2007 which were previously 'protected’ from any annual investment limit and a beneficial source of funds to many growing companies". Further, the annual investment limit is also to be restricted by any other state aid risk capital obtained by a company such as stakes in the company by regional......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Cliff Asness attracts $360 million as liquid alternative funds hold up[more]

    From Bloomberg.com: As U.S. stocks suffered their worst month in more than three years in August, Clifford Asness’s managed futures fund was able to profit. Investors are taking notice. The $9.12 billion AQR Managed Futures Strategy Fund pulled in an estimated $360 million in net subscriptions last

  2. Activist News - Carl Icahn has snapped up a huge stake in Freeport-McMoRan, and the stock is ripping, Meet Europe's best activist investor[more]

    Carl Icahn has snapped up a huge stake in Freeport-McMoRan, and the stock is ripping From Businessinsider.com: Carl Icahn has picked his next target: Freeport-McMoRan. Icahn and a group of other investors have snapped up an 8.46% stake in mining company Freeport-McMoRan, according to a j

  3. North America - Hedge fund manager Ray Dalio’s challenge to the Fed[more]

    From Newyorker.com: For some reason, Janet Yellen, the chair of the Federal Reserve, decided to skip this year’s annual Fed conference in Jackson Hole, where monetary policymakers from the United States and abroad get together with some prominent academics to discuss the big issues of the moment. Th

  4. Performance - Einhorn and Loeb's hedge funds both decline 5% in August, Some target-date funds miss in the market turmoil[more]

    Einhorn and Loeb's hedge funds both decline 5% in August From Reuters.com: Hedge fund billionaires David Einhorn and Daniel Loeb saw their main funds lose roughly 5 percent in August during a dramatic market sell off, two people familiar with their returns said on Monday. Einhorn's

  5. Opalesque Exclusive: Foundation returns slide, but commitment to alternatives remains[more]

    Bailey McCann, Opalesque New York: Private and community foundations posted returns of 6.1 percent for the 2014 fiscal year (January 1 – December 31, 2014), down from the 15.6 percent return reported for FY2013, according to the latest Council on Foundations–Commonfund Study of Investment of End

 

banner