MMC Ventures offers new HMRC-approved EIS product
- On February 24, 2021
- By GrowthInvest Marketing
EIS fund manager MMC Ventures is among the first companies to allow investors to take advantage of HMRC’s revised approved fund EIS rules.
Via the new knowledge intensive EIS fund, MMC investors will be able to invest in the high-growth technology companies MMC is known for without the two most common pain points of EIS investing, timing uncertainty and administrative burden.
With most EIS funds currently in the market, investors can claim income tax relief when the funds are deployed into underlying companies. This can take anywhere between 12-24 months for full investment. However, with the new knowledge intensive EIS Funds, the relief is dated when the fund closes (with carry back options depending on individual circumstances). In the case of the MMC knowledge intensive fund, it will close on 1st April 2021. In addition, investors in these approved funds will receive one EIS5 certificate, rather than the typical 10–15 separate EIS3 certificates, depending on the fund.
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