On 23 March 2011, the Chancellor presented his 'Budget for Growth', which included news that the lifetime limit on Entrepreneurs' Relief is to double and that Venture Capital Trusts (VCTs) and Enterprise Investment Schemes (EIS) would be expanded by increasing the size of companies that can qualify for investment, while also announcing an increase in the income tax relief for EIS.
All of this is good news from our perspective, especially the news on VCTs and EIS, which the Quoted Companies Alliance has been actively campaigning on, along with other industry bodies. Expanding VCTs and EIS was a key aspect of the QCA's budget proposals, which were prepared by the QCA Tax Committee and submitted to Treasury officials and ministers and the opposition in February.
For more on the QCA's reaction to the budget, click here to read our press release.
