SI 2018/931 - The Finance Act 2018, Section 14 and Schedules 4 and 5 (Commencement) Regulations 2018

Released 9 August 2018

SI 2018/931 commences amendments by FA 2018 to EIS, SEIS and VCT reliefs from 15 March 2018, 6 April 2018 and 6 April 2019.

The Finance Act 2018, Section 14 and Schedules 4 and 5 (Commencement) Regulations 2018 bring into force certain amendments relating to Enterprise Investment Scheme (EIS), Seed Enterprise Investment Scheme (SEIS) and Venture Capital Trust (VCT) reliefs made by the Finance Act 2018 (FA 2018), s. 14(1) to (3) and Sch. 4 and 5. FA 2018, s. 14 amends the requirements for investments to qualify for relief under the EIS, SEIS and VCT scheme by introducing a new risk-to-capital condition which must be satisfied for relief to be available (with effect from 15 March 2018); Sch. 4 amends the rules relating to investments in knowledge-intensive companies in the EIS and VCT schemes (with effect from 6 April 2018); Sch. 5 makes further amendments to the rules for VCT relief under the Income Tax Act (ITA 2007), Pt. 6 (with effect from 15 March 2018, 6 April 2018 or 6 April 2019). The regulations were made on 8 August 2018.

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