Investment extension for EIS

Changes to venture capital schemes will reduce the proportion of money raised under enterprise investment schemes (EIS), and corporate venturing scheme (CVS) that must be invested within 12 months from 100% to 80%. Any amount remaining must be used within the following 12-month period. This change will come into effect for shares issued from 8 March 2001 onwards and will also apply to shares already in issue that meet the requirements of the scheme in question as of 8 March. The Budget has also proposed to relax the rules that restrict or withdraw EIS reliefs when a company returns valu...