Sun, Dec 17, 2017
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. Mediobanca acquires majority stakes in Swiss hedge fund[more]

    Komfie Manalo, Opalesque Asia: Listed diversified banking group Mediobanca SpA said it has acquired a majority stake in Geneva-based hedge fund firm RAM Active Investments SA (RAM AI), an active and alternative asset manager offering a range of act

  2. Launches - Ex-BlueCrest team to open over $200m hedge fund, Greg Coffey, a hedge fund star who retired at 41, is eyeing a comeback, Brevan Howard plans Greek funds as bond rally signals revival[more]

    Ex-BlueCrest team to open over $200m hedge fund From Bloomberg.com: A team of traders who left BlueCrest Capital Management earlier this year raised more than $200 million for their own hedge fund focused on Asian stocks, according to a person familiar with the matter. Ovata Capital Manag

  3. North America - Miami could attract hedge funds if SALT deductions axed[more]

    From Law360.com: For years, inertia has been Nitin Motwani's greatest foe in his attempts to lure hedge fund owners in the northeast to Miami, which he has pitched as a tropical low-tax paradise. But with the Republican tax bill proposing to eliminate deductions for state and local taxes, he's sensi

  4. Northleaf Capital Partners closes debut private credit fund on $670M[more]

    Bailey McCann, Opalesque New York: Northleaf Capital Partners has closed its debut private credit fund - Northleaf Private Credit I - on $670 million. The vehicle will invest in private credit transactions in Europe and North America, with a primary focus on lending to private equity-backed compa

  5. ...And Finally - The ongoing gun saga in the U.S.[more]

    From Newsoftheweird.com: As elder members of the First United Methodist Church in Tellico Plains, Tennessee, gathered on Nov. 16 to discuss the recent church shooting in Sutherland Springs, Texas, one of those present asked if anyone had brought a gun to church. One man spoke up and said he c