How EIS Can Reduce Client Income Tax Bills

Andrew Aldridge, Partner and Head of Marketing at Deepbridge, recently spoke with Money Marketing to share his thoughts regarding how the Enterprise Investment Scheme (EIS) can help reduce client income tax bills. 

"Your clients promise to submit their tax returns well ahead of January every year, don’t they? There’s then always an excuse as to why they leave it until the last minute, isn’t there? And then they come to you asking what they can do to pay less tax. This hopefully isn’t every client, but there are a good number who follow this pattern despite your best education. 

So, what can you do? 

The obvious answer, hopefully, for appropriate clients is to utilise an Enterprise Investment Scheme (EIS) proposition which can fully deploy funds prior to tax year end.  EIS funds offer an ability to claim 30% income tax against the previous tax year (currently that would be 2020/21) via a carry-back facility. 

After many years of discussions with advisers and investors, there are a number of matters which perhaps require clarifying, with regards to EIS carry-back options." 

Read about the five top tips for offsetting income tax relating to the 2020/21 tax year that Andrew Aldridge suggests, by clicking here to read the full article. (By following this link you will leave the Deepbridge website. Deepbridge takes no responsibility for content on external websites).