AppId is over the quota
AppId is over the quota
LONDON | Mon Sep 26, 2011 7:15am BST
LONDON (Reuters) - The government has increased the tax breaks for investors taking risks in fast-growing small companies.
The European Commission had approved the increase of the rate of income tax relief available on Enterprise Investment Scheme (EIS) to 30 percent from 20 percent and the doubling of the annual investor limits to 1 million pounds, the Treasury said.
The increase was already announced in the March budget and will cost over 100 million pounds a year.
The EIS is aimed at fast-growing businesses and the business angels who invest in them. It supported over 1,800 businesses, raising 500 million pounds in investment in 2008/2009, the most recent year for which figures are available.
(Reporting by Sven Egenter)
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