The European Commission has published a letter confirming that they do not object to the UK’s 10-year extension to the sunset clause on the EIS and VCT schemes.

The letter is dated 22^nd July 2024 and details the dates of the discussions between the UK government and the European Commission around the extension of the sunset clause which were initiated in April 2023.

This news is very welcome and an important step towards final confirmation of the extension of the sunset clause to 2035.

The extension  is welcomed across the EIS and VCT industry as it recognises the crucial role these schemes play in ensuring that emerging companies can raise the investment they need to grow while supporting thousands of investments and job opportunities throughout the UK.