Wealth managers warming to EIS: specialist (FT Advisor)

by Dave Baxter



Wealth advisers are showing growing acceptance of Enterprise Investment Schemes because of the tax benefits involved for their clients, Lee Goggin, a sector specialist has said.

The 39-page HMRC document Enterprise Investment Scheme and Seed Enterprise Investment Scheme Commentary Note, released in December last year, showed EIS flows had been increasing, with more than £1bn invested in the 2011/12 and 2012/13 tax years

He said there were risks in using EIS but it could form part of a diverse portfolio.

Adviser view

Jason Hollands, managing director, business development and communications, for UK-wide firm Tilney Bestinvest, said: “HMRC has taken a very robust approach to aggressive forms of tax planning, so it has helped drive investors towards schemes that have full statutory backing.”

Amount raised for EIS in:

2008/2009: £517.7m

2009/2010: £622.7m

2010/2011: £548.8m

2011/2012: £1.032bn

2012/2013: £1.015bn


See the article here on the the FT Advisor website.