EIS is being withdrawn from 30/11/2015. Check with your chosen scheme before investing to see if your investment will still qualify.
Many schemes are asking for applications to be in by 23/11/2015 to ensure they are fully processed before the cut off date.
The Treasury has stated that community energy projects will be excluded from the Enterprise Investment Scheme (EIS)/Seed Enterprise Investment Scheme (SEIS) from 30 November 2015. They have further stated that community energy schemes will be excluded from Social Investment Tax Relief (SITR), reversing the governments’ previous statement in March 2015.
These announcements mean that community energy organisations which benefit from subsidies for the generation of renewable energy will no longer be eligible for any tax-advantaged investment for investment made on or after 30th November 2015.
Share offers will need to be closed and shares issued by 30th November 2015 for investors to qualify for the relief – even where investments have received advance assurance.
The announcement was made by the Financial Secretary to the Treasury in Parliament during the Report Stage of the Finance Bill who stated regulations would be laid to this effect and has gone largely unreported in the mainstream press.