The Enterprise Investment Scheme and Venture Capital Trust have been extended by 10 years to April 2035. These are the flagship investment schemes. This is how the government aims to support entrepreneurs.
The schemes encourage investment in young companies by offering tax breaks and supporting innovation and job creation. One of the incentives is an advance income tax relief of up to 30% and also an exemption from capital gains tax.
The EIS has attracted more than £41 billion since its launch. The schemes continue to bring in significant amounts of investment. During 2022-23, the schemes have raised £2.9 billion, with 1,280 companies taking advantage of the EIS for the first time during this period.