The European Commission has given approval under the EU State Aid rules. This means that EMI schemes can now be granted without losing the associated tax advantage. The decision by the European Commission will apply until either April 2023 or when the UK ceases to be a Member State.
One part that has not been made clear is whether grants made from 7 April 2018 – 14 May 2018 are at risk of a claw-back of any tax relief received from the individuals and companies who benefitted from it.
If you require further information or wish to discuss an EMI scheme or valuation extension, please contact either Reshma Johar or Thomas Dalby.