Relief for Investment in Innovative Enterprises for individuals
Investing through partnerships
You can make an investment under this scheme through a partnership. The scheme operates differently when the investment is made in this way.
The following conditions must be met:
- The main business of the partnership must be the investment of funds for the benefit of its partners.
- You must be a partner and invest at least €20,000 in the partnership before the partnership invests in the company.
- The partner availing of the relief must be an individual.
- The investment made by the partnership must be at least €20,000.
- The company will provide the partnership with copies of its Certificates of Qualification.
When the partnership sells the investment, each partner may claim relief on their share of the gains. To claim the relief, each partner must show copies of the Certificates of Qualification given to the partnership.
The relief is given to partners by applying a Capital Gains Tax (CGT) rate of 18%. The gains that can benefit from the relief for any investment is limited to the lower of:
- the chargeable gain
- twice the amount of the investment
- and
- the balance of the lifetime limit available.
Note
Each partner's share of the gains counts towards the €10 million limit for them as an investor.
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