The European Commission has approved, under EC Treaty State aid rules, three UK fiscal venture capital schemes: Enterprise Investment Scheme (EIS), Venture Capital Trusts (VCTs) and Corporate Venturing Scheme (CVS). The schemes form part of the UK's measures to support access to finance to SMEs and provide tax incentives to individual and corporate investors to encourage their investments in unquoted SMEs. As all the requirements of the Community Risk Capital Guidelines have been met, after the UK modified the schemes, the Commission considers that the aid is therefore compatible with Article 87(3)(c) of the EC Treaty, which allows aid to facilitate the development of certain economic activities.
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Commission approves three UK fiscal venture capital schemes
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