The fourth Budget address from George Osborne has included an extension to the capital gains relief for the Seed Enterprise Investment Schemes (SEIS).
The Seed Enterprise Investment Scheme is aimed at early-stage businesses
Under plans unveiled by chancellor George Osborne, investors will be able to extinguish capital gains tax made up to 6 April 2013 by investing in a Seed Enterprise Investment Scheme (SEIS) in the next tax year.
Old rules meant that tax exemption was only available on gains realised in 2012-13 then invested in the same year.
Capital gains tax can be extinguished completely by investing in an SEIS approved scheme. This is compared to other seed capital schemes such as Enterprise Investment Schemes (EIS) and Venture Capital Trusts (VCT), where capital gains tax is only deferred by re-investing into another scheme.
4Oceans Capital has raised a SEIS fund and is currently seeking to invest in growth companies which would meet the SEIS requirements.
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