Revenue delays in issuing certificates for EIIS relief

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8till8

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A friend invested in an EIIS in late 2016 and he hasn't received EII3 cert to claim tax relief.

The company he invested in says the Revenue is extremely slow in dealing with applications and they are having issues with whether they are a qualifying company or not.

I understand from some google research that Revenue changed or tightened rules around the whole scheme.

Is this revenue issue widespread? My advice to my friend was to get out asap, if neccessary get a solicitor onto it and somehow get your investment back but its unclear how likely that is.

Any advice?
 
Depends on what your friend signed. If his investment was subject to the company meeting the EIIS qualifying criteria, then they will have to give back the money to the investor.

There have been serious delays in getting Revenue approval- it’s likely the company isn’t bluffing about that.

I’ve always thought that EIIS investments were better suited to a fund rather than an individual company but that’s an aside.
 
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