The Enterprise Investment Scheme, or EIS, as it is more commonly known, is a scheme by which investors can receive tax relief on the investments they make into certain qualifying businesses.
EIS is similar to the SEIS scheme and therefore it is important that you take professional advice when deciding which scheme is most appropriate for you.
By being flexible and willing to make an EIS application, you make your company more attractive to investors. Investors can claim back up to 30% of the value of the investment in the form of income tax relief. That is potentially a huge saving for investors and therefore offering EIS is a very attractive proposition.
There are qualifying conditions in order for your scheme to qualify for EIS. For example, there are conditions on what the money can be raised for, the value of gross assets and the quantity of employees, and also on the overall limit you can raise using EIS and its associated schemes such as SEIS.
Further to this, you cannot simply issue the shares and leave the matter with the investors; you need to make an application to HMRC, known as a compliance statement.
While there are complexities to who can apply, the potential benefits are huge. The Hybrid experts know EIS through and through and can assist you from simply explaining how a scheme may work for you, to issuing full compliance certificates for your new investors.
We know exactly what you are thinking.
- That is going to be costly
- Solicitors don’t understand our business
- I do not have time for complex lengthy paperwork
- There is so much legal jargon I have no idea what is going on.
- The stress will outweigh the benefits
Expert help without the stress.
Because we understand what it means to grow a business.
- Fixed fees
- Down to earth advisors
- A team who cares
- Years of expert knowledge at the dial of a phone
- Simplified approach making the whole process easy to understand
We want to see you grow
We break it down so you can understand every step of the procedure.
Understanding your business
Many traditional law firms forget this, but it’s the most important step. In order to feel confident that your company can benefit from the scheme, we will need to understand more about your company to ensure you meet the qualifying criteria.
HMRC advanced assurance
Before your investors hand over their funds, we will apply to HMRC for advance assurance. This means that we provide HMRC with the vast majority of the information upfront in order for them to provide a determination on if you qualify, this will provide your investors with peace of mind.
Receiving the investment
We will need to produce the formal documentation for the receipt of the investment and the allocation of the shares. We can handle this for you and make sure the process is smooth and stress free.
While we may have advance assurance, we still need to issue a compliance statement to HMRC to confirm that the information we submitted is correct, and to request that they issue the relevant compliance certificates.
Once we receive compliance certificates from HMRC we will draft these for each of your shareholders, these will them be forwarded to you for your signature. Once you have signed the certificates they must be sent to the investors.
It is often the case that you have questions after the fact. We will always be on hand to answer yours queries and to assist you should you require any further assistance.
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