Autumn Statement 2022: the SEIS threshold increases survives
While most of the announcements from September’s “mini-budget” have subsequently been rather ignominiously scrapped, it was confirmed yesterday in the Autumn Statement that the government is not planning to scrap the changes to the significant loosening of the rules relating to the Seed Enterprise Investment Scheme (SEIS).
SEIS is a relatively generous scheme designed to encourage investment in new businesses. In short, qualifying investors get various tax reliefs including income tax relief of 50% on their investment, capital gains tax exemptions on disposal and loss relief.
The new rules will allow companies to receive up to £250,000 through the scheme, while SEIS investors will be able to invest up to £200,000 each tax year. The limit on the gross assets a company can have to benefit from the scheme is also being increased to £350,000.
My colleague Ellen Wildig has produced a helpful summary of yesterday’s other key announcements, which can be found here: Autumn Statement 2022: the headlines, Ellen Wildig (boodlehatfield.com)
Charlie Hewlett is a Senior Associate in the Corporate team at Boodle Hatfield and a member of the firm’s specialist Entrepreneurs Group.
