Our Partners, TaxScouts, have provided the following information:
To be eligible, you or your associates must:
- Invest in EIS-eligible companies (a given, but it doesn’t hurt to double check!)
- Be a UK taxpayer (so you can pay UK Income Tax and be eligible for Income Tax relief)
- Not have more than a 30% share of the company (or any controlling interest)
- Pay for the shares in full, upfront, and by the date of issue
- Not be paid employees, partners, or directors of the company
- Keep the shares for at least 3 years before selling
- Only invest up to £1 million (or £2 million if £1 million is already invested in knowledge-intensive companies) in EIS companies within each tax year
If you are eligible for EIS, please ensure your tax relief opt-in is enabled in your account settings in order to receive allocation.
If you have any questions around tax relief or wish to find out more, please head to TaxScouts Help Centre.