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From 6 April 2008 the limit for income tax relief on Enterprise
Investment Scheme (EIS) investments has been raised from £400,000 to
£500,000 in the tax year by any one individual.
Also, the list of specifically excluded trades for the three available
reliefs, the Enterprise Investment Scheme (EIS), the Corporate Venturing
Scheme (CVS) and the Venture Capital Trust (VCT) Scheme, has been extended
to include shipbuilding and coal and steel production. This will mean that
companies whose trade consists substantially of these activities will no
longer qualify under these three schemes for any relief.
Our view
We welcome any increase on the income tax limit which provides relief to
individuals, while also promoting investment in small business. |
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