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Technology business start-ups seeking investment should move quickly to benefit from the Enterprise Incentive Scheme (EIS).
Gateway2investment (g2i) is a programme which supports upcoming technology companies, such as technology business start-ups, that are trying to secure investment funding.
Neil Pamplin of Grant Thornton UK, a partner in the g2i programme, has warned that the deadline is approaching for companies planning to raise funds while allowing investors to take advantage of the full benefits the EIS offers.
As reported by startups.co.uk, Mr Pamplin said: "There is still time for some companies to push through their fundraising but they will have to move quickly.
"The alternative is to wait until after the summer but risk potentially less investor interest due to the reduced incentives on offer."
Marchs Budget speech outlined certain new restrictions related to the EIS which will come into effect this summer.
Investors in companies with more than 50 employees will no longer be eligible to claim relief under the scheme. The number of companies able to quality for relief will also be restricted.
Commenting on the upcoming restrictions, Mr Pamplin added: "EIS and Venture Capital Trust reliefs are extremely attractive to the individual investor and any restriction is almost certain to limit the supply of funds and potentially affect owners’ dilution."
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