This morning the Chancellor has committed to extending the EIS beyond the 2025 sunset clause. This is fantastic news for the industry and shows this Government’s commitment to supporting entrepreneurs. We’d like to thank all EISA members for their contributions and input into this work. This is something EISA has been campaigning for over many years and it is really wonderful to be able to share this news with you.
“We want this country to be an entrepreneurial, share owning democracy. The Enterprise Investment Scheme and Venture Capital Trusts, we will extend beyond 2025. The Seed Enterprise Investment Scheme and Company Share Option Plans, we will increase the limits to make them more generous. Crucial steps on the road to making this a nation of entrepreneurs.”
– Chancellor Kwasi Kwarteng, 23rd September 2022
A clip of the Chancellor commitment can be viewed here.
Seed Enterprise Investment Scheme (SEIS) – From April 2023, companies will be able to raise up to £250,000 of SEIS investment, a two-thirds increase. To enable more companies to use SEIS, the gross asset limit will be increased to £350,000 and the age limit from 2 to 3 years. To support these increases, the annual investor limit will be doubled to £200,000. These changes will help over 2,000 companies a year that use the scheme to grow. Full details here.
EISA will, of course, be working closely with the government regarding exactly how and when these changes will be rolled out and we will keep members updated.