The European authorities have now given the go-ahead to George Osborne’s changes to the Enterprise Investment Scheme that he set out in the March Budget.
This means that the income tax relief that is available will increase to 30% from 20% and will be backdated to April of this year. The annual limits on such investments in fast growing companies will also be doubled to £1m from April 2012.
It is expected that this increase will deliver up to £100m a year of income and capital gains tax relief.
The Enterprise Investment Scheme is aimed at investors who invest in fast growing companies and in 2008/9 it provided 1800+ companies and raised over £500m.
For further information go to: www.pegasusfunding.co.uk