PARLIAMENTARY WRITTEN QUESTION
Capital Allowances (26 May 2016)

To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the effect on business and investor confidence of potential retroactive changes being made to (a) Enterprise Investment Schemes, (b) Venture Capital Trusts and (c) other investment incentives.

Asked by:
Jonathan Reynolds (Labour)

Finance Bill 2016 contains provisions to exclude all remaining energy generation from the tax advantaged venture capital schemes, and makes technical clarifications to ensure the rules work as intended. These measures were announced at Autumn Statement 2015 and Budget 2016 respectively. These changes apply for investments made on or after 6 April 2016.

The government published tax information and impact notes for these measures, which can be found at https://www.gov.uk/government/publications/income-tax-exclusion-of-energy-generation-from-venture-capital-schemes and https://www.gov.uk/government/publications/income-tax-enterprise-investment-scheme-and-venture-capital-trusts.

Answered by:
Mr David Gauke (Independent)
6 June 2016