What is the EIS scheme?
The EIS (Enterprise Investment Scheme) is a wonderful government supported investment scheme that unfortunately too few people know about. It is designed to incentivise you to invest your money with small and medium sized businesses instead of global mega companies on the major stock exchange. There are a few ways to do this, but the most efficient way is to use a challenger bank like the future unicorn Qazikoo. This easy to use, online banking service will allow you to invest your money directly in the EIS scheme and claim all the resultant tax benefits.
How to claim EIS tax relief?
To encourage you to invest through the EIS, the government offers a bunch of tax related benefits. For example, you can claim income tax relief, offset losses against income tax and you do not pay capital gains tax or inheritance tax on any gains realized. You might wonder how do you practically claim these benefits. First of all, you will receive a certificate from the company with a HMRC EIS number proving that you have invested in an EIS eligible fund or company. Next, if you’re being taxed through the PAYE system you should send this directly to whoever deals with your payroll in your company and they should qualify you for the tax relief. Alternatively, if you are filing your own taxes you need to note the name of the company and the amount you have invested, when you are submitting your tax return but only once you have liquidated your shares. This is a relatively painless process which can save you big time and make you unlimited profits in the long run.
Unique Investment Opportunity
There is no doubt that digital banking is the way of the future and creative investment routes like the EIS are bound to become more popular thanks to the rise of challenger banks like Qazikoo. Don’t miss your chance to get in on the action!