BSAC Working Group meeting to discuss EIS

Subsequent to the introduction of the ‘risk to capital’ test in April 2018, BSAC has held a meeting of our EIS Working Group to discuss Members’ experiences of the application of this new Statutory Test in practice.

BSAC actively engaged with the Treasury, HMRC and DCMS during the consultation process that informed the development of this Test.

This has included submitting a response to HMRC’s consultation on ‘Venture Capital Schemes: Risk-to-capital condition draft guidance’, a copy of which is available, here.

BSAC is collecting evidence on this issue with a view to providing feedback to DCMS and Treasury on the extent to which the implementation of the new ‘risk to capital’ test has proved problematic for the screen sector since its introduction.