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September 27, 2011 / trajsingh

New and improved – Enterprise Investment now 10% better*


*when compared to previous version.

Close to my heart, the Enterprise Investment Scheme announced in the UK’s budget last year was approved yesterday by the European Commission.

It now means that individuals can invest up to £1 million in a qualifying company (like sooqini :-)) and get income tax relief at 30%. Of course, you need to have a tax bill larger than £300,000, but I’ve no doubt that is not an issue for many of you out there.

I’m impressed that the coalition government is prepared to forego around £100 million to pay for this – it’s a good idea, if you believe that small businesses are where jobs are created (as I do). And perhaps it will help breathe some life into investing in seed companies in the UK, as it certainly could do with some CPR.

Here’s the guide for those of you who want to get going immediately…

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