Enterprise Investment Scheme

Treasury written question – answered on 17th June 2020.

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Photo of Seema Malhotra Seema Malhotra Shadow Minister (Work and Pensions) (Employment)

To ask the Chancellor of the Exchequer, if he will amend rules of the Enterprise Investment Scheme to help protect Future Fund investors from losing relief on previous investments.

Photo of Jesse Norman Jesse Norman The Financial Secretary to the Treasury

The Government intends to amend the legislation for both the Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS) to ensure that individuals who have made EIS or SEIS investments prior to a Future Fund loan investment in the same company will not lose relief on those existing investments when the Future Fund loan converts to shares or is repaid.

This will ensure that investors who have used the EIS or SEIS for a previous investment are not disincentivised from providing further support to innovative companies eligible through the Future Fund.

The legislation will take effect from the start date of the Future Fund, which is 20 May 2020.

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