EIS investment sees first drop in five years

The tax-efficient scheme saw a 2% drop from 2014/15 to 2015/16, although the £1.89bn raised in the most recent tax year was still the second-highest amount invested into the scheme since it was launched 24 years ago. The amount of companies raising money through the government-sponsored funding scheme has also fallen, from 1,740 in 2014/15 to 1,645 in 2015/16. It is the first fall of this kind since 2012 and accountancy firm Moore Stephens said it followed the decision by former Chancellor George Osborne to exclude businesses from the funding scheme that have been trading for more tha...