Government announces State aid approval for EIS and VCT limit increases
The UK Government has now received State aid approval from the European
Commission to make the following changes to the Enterprise Investment
Scheme (EIS) and Venture Capital Trust (VCT) scheme, increasing:
- the employee limit from fewer than 50 employees to fewer than 250
employees at the time of investment
- the gross assets limits from no more than £7 million to no more
than £15 million immediately before the relevant investment, and from
no more than £8 million to no more than £16 million immediately after
investment
- from £2 million to £5 million the amount which any company may receive
in the twelve month period ending with the date the relevant investment
is made
These changes will take effect in respect of investments made on or
after 6 April 2012, subject to the relevant legislation receiving Royal
Assent and to the making of a Treasury appointed day order shortly after
Royal Assent.
