A company raising money under a venture capital scheme will have restrictions on the amount it can raise and the number of people it can employ under new rules announced in today's Budget.
The changes will apply, in varying ways, to all investors under the Enterprise Investment Scheme (EIS), the Corporate Venturing Scheme (CVS), and the Venture Capital Trust (VCT) scheme, as well as firms attracting investment as a result of those schemes. The changes state a company raising money in this way must have fewer than 50 full-time employees at the date on which shares or securities are issued. In addition, a new investment limit will also apply to a company raising money under venture capital schemes. For an investment to qualify for relief (under EIS or CVS) or to be treated a...
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