With another provider announcing their withdrawal from the EIS market for this tax year, many advisers are nervous about EIS market capacity and whether they will be able to fulfil their client demand. Martin Churchill of Tax Efficient Review recently sent out a note to explain the situation that is causing some of the challenges.
“We are now hearing from providers that the time taken for HMRC to issue Advance Assurance letters for both EIS and VCT investments is lengthening as the process now involves HMRC requiring detailed information that new companies may not yet be able to supply.”
We wanted to take this opportunity to remind you that TIME is proud to have been granted Advance Assurance by HMRC for all planned tranches of TIME:EIS.
TIME:EIS already granted Advance Assurance
TIME:EIS is one of just a handful of asset backed EIS opportunities available in the market and tranche 2 now has only £1m of capacity remaining. Shares will be allotted upon completion of the full £5m raise – investing now and securing shares allotted in the current 2016/17 tax year, allows investors to carry back all or part of the investment to the previous 2015/16 tax year.
Tranche 1 successfully raised its £5m target last year and has now been fully deployed (read more).
Key features of TIME:EIS
Posted: 14/02/2017 Categories: News, TIME:EIS