Budget 2009 - EIS and VCT Rule Changes
With effect 22 April 2009 the rule for investing at least 80% of funds raised has been extended to 2 years, although this applies to the whole amount and not just 80%.
Currently, EIS investors are eligible for up to £500,000 per tax year and this can be carried back for one tax year.
This relief was previously restricted to shares issued before 6 October in the tax year and with a limit of half of the subscriptions paid in the tax year, subject to an overall limit of £50,000.
These restrictions have now been lifted with the only restriction now being the overall limit on tax relief available at £500,000.
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