Employment & Investment Incentive Scheme (EIIS)

EIIS is a tax relief incentive scheme which was announced in Budget 2011 to replace the old Business Expansion Scheme (BES).

It provides income tax relief for investments in SMEs – certain corporate businesses which have less than 250 employees and an annual turnover of under €50 million.

Who can claim? 

Any person making a qualifying investment during the period to 31st December 2020.

Tax Relief Due 
The maximum amount which can be invested in any year is €150,000. The initial tax relief is at 30% of the amount invested. A further 11% may be allowed at the end of 3 years after the investment is made.

For married couples both spouses are entitled to make a claim provided each has income in their own right to cover same. A married couple could make a combined BES investment of €300,000 provided each has sufficient income in their own right to offset against the cost of the investment.

These schemes are usually promoted by financial institutions and investment brokers. The promoters usually provide an explanatory memorandum outlining the rules and regulations applicable to each scheme.

You must keep your investment for a minimum period of 4 years in order to claim full tax relief.