Start-up Capital Incentive (SCI)
SCI is designed to assist start-up companies raise equity financing. It is a tax relief available to family members of existing shareholders. The conditions to avail of relief under SCI are:
- the company must be carrying on a brand new venture
- none of the shareholders can carry on a similar venture.
Where the company, the investment and the investors meet certain criteria, then the investor can claim the same relief as an EII investor would claim. That is, the relief is available in two tranches: 30/40 in the year of investment and 10/40 may be available after 4 years.
SCI investments cannot be made through designated investment funds. They must be made directly in the company
Subject to qualifying criteria and conditions
Any queries give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie