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Finance Act 2012


1.Section 39 and Schedule 7 make a range of changes to the Enterprise Investment Scheme (EIS), in respect of shares issued on or after 6 April 2012. This increases the annual amount an investor may invest under the EIS, and provides for three simplifications to the EIS rules. A trade which consists substantially in the receipt of feed-in tariffs (with certain exceptions) will become a non-qualifying activity. Monies used to acquire shares or stock in a company will no longer be regarded as employed for the purposes of a qualifying business activity. A “no disqualifying arrangements” test is introduced. The Schedule also raises the thresholds for eligible companies under the scheme, subject to a Treasury appointed day order. The increases in these thresholds are subject to State aid approval.

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