[ˈɛntəpraɪz ɪnˈsɛntɪv skiːm]
The Enterprise Incentive Scheme gives tax relief to individuals investing in startups. It exists to encourage growth and drive innovation.
The Enterprise Incentive Scheme (EIS) is an initiative that offers tax relief to individual investors that buy new shares in a company. This scheme helps companies receive funding that they would not have otherwise and have the ability to grow their business faster.
The EIS can give relief on Income Tax, Capital Gains tax and losses, and allows you to defer Capital Gains tax. For the 2023/24 Tax Year, an individual can claim up to £2 million when investing in HMRC defined "knowledge-intensive" companies, or £1 million otherwise.
Because of the tax relief given by the EIS, it can be a tax-efficient way of investing. This means that investment is done while legally reducing the total tax bill as much as possible.
January 31st is the deadline for submitting 2022/23 tax returns. It's a good idea to complete your tax return ahead of this deadline to avoid mistakes and potential penalties. This article shows why its a good idea to submit your tax return early and how Earnr can help you if you are stuck.
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We recently introduced our newest addition to the Earnr team; our AI chat bot, Earnr AI. In this article we put Earnr AI to the test and asked it why you should use Earnr as your tax companion, bookkeeping tool and tax return assistant. Read it's excellent response!
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The festive period is often thought of as the busiest time of the year with the run up to Christmas and New Year. Whilst this period can feel hectic at times, it can also be seen as the perfect time to complete your tax return. In this article we explain why this Christmas time is the best time to submit your 22/23 tax return.
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