EII/SURE/SCI Revenue guidance just published

Dec 21, 2020

Revenue has just published updated guidance on EII, SURE and SCI tax reliefs for investment in corporate trades.  The guide incorporates changes under Finance Act 2019 and provides for a measure which takes account of the difficulty caused by COVID-19 disruption for businesses in meeting the employment test for “tranche two” tax relief.  This is an issue raised by the CCAB-I with Revenue through the TALC forum.

Tax and Duty Manual Part 16-00-02 contains general guidance on the Employment Investment Incentive (EII), Start-Up Relief for Entrepreneurs (SURE) and the Start-Up Capital Incentive (SCI). This manual has been updated to reflect the changes made by Finance Act 2019 and to incorporate the guidance previously set out in Part 16-00-03, Part 16-00-10 and Part 16-00-11.

The manual also now provides guidance on temporary measures available to companies who may have availed of EII and for whom the ability to meet the conditions to qualify for the second tranche of relief may be impacted as a result of Covid-19.  See eBrief No. 229/20 for more details.