Tax relief for investing in business

[johnfrancis]

Hi all, i was recently told about a government scheme that allowed a person invest money in a business and they got a tax relief on their personal wage. I had thought that you might get tax relief on monies earned from the investment but i didn't think you would get it on your own wages. Anyone ever hear of such a scheme ?

Thanks in advance

JF

 

[Brendan Burgess]

Hi John

They are referring to the Employment and Investment Incentive Scheme

You get tax relief at 20% on your income , irrespective of where that income comes from.

http://www.askaboutmoney.com/showthread.php?t=169887

 

[johnfrancis]

Thanks for the speedy reply Brendan. Is this scheme still operating ? I checked out the revenues website but its more of a legal document as far as i can see. Do you know if the scheme has a list of companies ready to be invested in or would you need to find them elsewhere. I have been looking at websites like angel investors and enterprise.ie etc and you can find small companies looking for investment.would i need to find out myself if these companies met the criteria ? Is there any state guarantees with any investment schemes like this

 

[Joe_90]

[broken link removed]

 

[johnfrancis]

Thanks Joe, do you have any experience of this scheme ?

 

[Joe_90]

You invest in a company and get tax relief. Then you wait for the company to give you your money back.

http://www.askaboutmoney.com/showpost.php?p=1319737

 

[Nige]

Hi John

They are referring to the Employment and Investment Incentive Scheme

You get tax relief at 20% on your income , irrespective of where that income comes from.

http://www.askaboutmoney.com/showthread.php?t=169887

No, you get tax relief at 30% (provided you've enough tax paid that year to cover it) and, in year four, provided the company has increased payroll costs or R&D spend and is still a qualifying company, you get another 11%.