The extension to the EIS was initially reported in November 2023, when the then government announced a 10-year extension to the EIS to April 2035. This passed through Parliament as part of the Finance Act 2024 in February. Whilst this was passed into law, there was a clause stating that “This section comes into force on such day as the Treasury may by regulations appoint.”

The 3rd September 2024 was confirmed as the appointed day the extension will come into force (extension of enterprise investment scheme relief and venture capital trusts relief to shares issued before 6 April 2035).

Great news for this sector and EIS funds which have provided £32bn of private investment to nearly 60,000 start ups over the last 3 decades.