Asked by: Kit Malthouse (Conservative - North West Hampshire)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether his Department has assessed the effectiveness of the (a) Enterprise Investment Scheme and (b) Seed Enterprise Investment Scheme.
Answered by Mel Stride - Shadow Chancellor of the Exchequer
HM Revenue and Customs have previously commissioned studies into the use and impact of the Enterprise Investment Scheme (EIS). These were published in April 2008 and February 2016 respectively. Details can be found at:
2016 study: https://www.ipsos.com/ipsos-mori/en-uk/use-and-impact-venture-capital-schemes
Seed EIS, introduced in 2012, was not included in the studies. Both these reliefs are currently being considered as part of the Patient Capital Review, the consultation for which was published in August.
Asked by: Kit Malthouse (Conservative - North West Hampshire)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how much has been collected by HM Revenue and Customs in corporation tax from companies that had previously received Enterprise Investment Scheme tax relief in each of the last 10 years.
Answered by Mel Stride - Shadow Chancellor of the Exchequer
HMRC estimates that companies which raised funds under the Enterprise Investment Scheme (EIS) between 2006‑07 and 2015‑16 had a Corporation Tax liability of £95 million in 2015‑16, the latest year for which data are available.
This cannot be considered to be additional tax generated due to EIS, as it does not take account of the additionality or opportunity cost of investment.
The information requested about VAT and PAYE Income Tax is only available at disproportionate cost.
Asked by: Kit Malthouse (Conservative - North West Hampshire)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how much has been collected in Pay as You Earn income from companies that had previously received Enterprise Investment Scheme tax relief in each of the last 10 years.
Answered by Mel Stride - Shadow Chancellor of the Exchequer
HMRC estimates that companies which raised funds under the Enterprise Investment Scheme (EIS) between 2006‑07 and 2015‑16 had a Corporation Tax liability of £95 million in 2015‑16, the latest year for which data are available.
This cannot be considered to be additional tax generated due to EIS, as it does not take account of the additionality or opportunity cost of investment.
The information requested about VAT and PAYE Income Tax is only available at disproportionate cost.
Asked by: Kit Malthouse (Conservative - North West Hampshire)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how much has been collected by HM Revenue and Customs in VAT from companies that had previously received Enterprise Investment Scheme tax relief in each of the last 10 years.
Answered by Mel Stride - Shadow Chancellor of the Exchequer
HMRC estimates that companies which raised funds under the Enterprise Investment Scheme (EIS) between 2006‑07 and 2015‑16 had a Corporation Tax liability of £95 million in 2015‑16, the latest year for which data are available.
This cannot be considered to be additional tax generated due to EIS, as it does not take account of the additionality or opportunity cost of investment.
The information requested about VAT and PAYE Income Tax is only available at disproportionate cost.