The government has announced its intention to revampthe existing Business Expansion Scheme (BES) and rename it the Employment and Investment Incentive Scheme (EII)
The current BES scheme is a tax relief incentive schemethat encourages investment in qualifying companies by offering income tax relief to investors on investments up to €150,000. Under the existing BES scheme the maximum amount that a company can raise is €2 million and the maximum in any one year is €1.5 million.
I believe that these limits are overly restrictive inrelation to investors and qualifying companies concerned and would propose the following for the new Employment and Investment Incentive Scheme (EII):
The detail in relation to the new Employment andInvestment Incentive Scheme (EII) will be published in the upcoming Finance Act.
For further information, please contact Brian Dignam, Partner, OSK
A video message from Tadgh O'Sullivan, Director.
To request a call back from the OSK team, please complete the form below.