The Chancellor covered many areas in the Budget including some less welcome increases in Class 4 national insurance contributions for the self employed which grabbed the headlines. You had to read the small print to see the latest on EIS, namely the Patient capital review.
3.13 Patient capital review – The review aims to ensure that high growth businesses can access the long-term capital that they need to fund productivity enhancing investment. Alongside identifying barriers to institutional investment in long-term finance, the review will also consider existing tax reliefs aimed at encouraging investment and entrepreneurship to make sure that they are effective, well targeted, and provide value for money.
We understand a consultative review will take place in May 2017 which will include EIS. Following this its is expected that recommendations will then be announced in the Autumn Budget 2017.