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Finance Act 2012

Background Note

23.The EIS and Venture Capital Trusts (VCT) scheme encourage investment in small, higher risk trading companies by offering tax incentives to investors in qualifying companies.

24.Following consideration of responses to a consultation document "Financing a Private Sector Recovery", published on 26 July 2010 and to a further consultation, “The path to strong, sustainable and balanced growth" (the “Growth Review”), published on 29 November 2010, the Chancellor announced in his Budget on 23 March 2011 that subject to State aid approval, limits on the size of companies which can benefit under the schemes would be increased.

25.A further consultation document, "Tax-advantaged venture capital schemes: a consultation" was published on the Treasury website on 6 July 2011 seeking views on ways in which the EIS and VCT might be improved.

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