The Revenue Commissioners operate the following tax incentive schemes for business:-
The Seed Capital Scheme (SCS)
This scheme allows for promoters of qualifying businesses to claim back their individual income tax for the previous five years on the amounts subscrived by that inidividual in a qualifying company, where the individual is a full-time employee of full-time director of the company. The tax relief is given for the year in which the investment is made.
Further details of the Seed Capital Scheme can be found here
The Business Expansion Scheme (BES)
This scheme allows for individial investors in a qualifying business to obtain income tax relief on investments in each tax year. There is no tax advantage for the company in receipt of the BES bu securing this funding may enhance their to ability to attract other external funding.
Further details of the Seed Capital Scheme can be found here
The Role of CEBs as Certifying Bodies for SCS and BES.
County & City Enterprise Boards (CEB) are one of a number agencies who have the authority to certify businesses as qualifying companies in respect of the Seed Capital Scheme (SCS) and Business Expansion Scheme (BES). In order for our Board to evaluate a company's eligibility for either scheme, we ask that they send us a plan plan/proposal for review.
Call us on (01) 494 8400 with any queries.