stephen slater incentives & financial services 1 employment and investment incentive
TRANSCRIPT
Stephen Slater
Incentives & Financial Services 1
Employment and Investment Incentive
Employment Investment Incentive (EII)
The Employment Investment Incentive (EII) is a tax relief incentive scheme that provides tax relief for investment in certain corporate trades.
Help small/medium enterprises(SMEs) attract investment
Encourage SMEs to employ more people
EII
A third party investor makes an investment into a qualifying company for eligible shares.
A qualifying company must use the funds raised on relevant trading activates or qualifying research and development and for the creation and maintenance of employment.
EIIThe Relief
Relief under EII is allowed initially at 30/41 or up to 30% of the investment
If certain conditions are met it after the three year holding period
A further 11/41 or 11% is allowed
EII
Investment Limits
Maximum investment €10,000,000 for the lifetime of the company
Maximum in any 12 month period €2,500,000
Minimum individual investment is €250 per annum
Maximum individual investment €150,000 per annum
EII
The Process
Step 1: EII Outline approval (optional)
Step 2: Find investors
Step 3: Company secretary fills in form EII 1
Step 4: Revenue issue form EII 2 and EII 3
EII
The Process
Step 5: Company secretary fills in part one of EII 3 and gives it to investors
Step 6: Investors contact their local district to organise refund
EII
More information is available on leaflet IT55 available on our website www.revenue.ie
Forms EII outline and EII1 are available on our website www.revenue.ie
Quieries to [email protected] or by telephone 01-7024107
Stephen Slater
Incentives & Financial Services 1
Employment and Investment Incentive