Help for new companies welcomed in Sheffield

A new Government investment scheme has been welcomed in Sheffield for the way it is expected to boost our area’s new and growing businesses.

Introduced this month, the Seed Enterprise Investment Scheme (SEIS) offers attractive rates of tax relief for anyone investing in fledgling companies. Relief is available against income for amounts invested and, for the current tax year only, gains arising on disposals of other assets can also be exempted from tax by an SEIS investment.

Tax specialist Brian Gooch, of independent chartered accountants and business specialists Hawsons, of Glossop Road, Sheffield, said: “Hopefully the new scheme will result in a flow of funds into new companies at a time when they need it most, particularly as it may be an alternative way of attracting investment when it is still difficult to obtain finance from traditional sources such as banks.”

Certain types of businesses are exempt, Brian added, and there are also limits on who can invest and the amount that can be invested.

More details are available from Brian at bjg@hawsons.co.uk (tel: 0114 266 7141).

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