The government's recent consultation into VCTs and EISs has closed and we are about to learn of HMRC's proposed changes to the rules when they are announced around the time of the Chancellor's Autumn Statement on 29 November.
The changes will then be carried forward into the first draft of the Finance Act 2012, due to be published on 6 December. We have already had a number of significant improvements to the EIS in recent months, the most important of these of course being the increase in income tax relief from 20% to 30%, which came into force on 6 April 2011. Add to this the ability to invest up to £1m per annum with the benefit of tax relief (from 6 April 2012) and the ability to carry your income tax relief back to the prior year (already in force). These changes have now received EU State Aid approval. B...
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