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EIIS Opportunity: One of the few remaining income tax reliefs

The Baker Tilly Hughes Blake joint venture with Goodbody is going from strength to strength. The joint venture with Goodbody is now entering its second year with fundraising for the Goodbody 2016 EIIS Fund in full swing.

The Employment and Investment Incentive Scheme (“EIIS”) is one of the few remaining income tax reliefs. An EIIS investment can provide up to 40% tax relief on a qualifying investment and can be offset against all income including rental income which sets it apart from your annual pension contribution. An EIIS investment of €25,000 can create initial tax relief of up to €7,500 in 2016 and further tax relief of up to €2,500 in 2020.

 The Goodbody 2015 EIIS Fund

Last year’s EIIS fund has had a successful year with investments completed in four companies which include McArdle Skeath the logistics and supply-chain company, Barberstown Castle Hotel, Intact Software company, the Sunhill nursing home group and a gin & whiskey distillery.

 The Goodbody 2016 EIIS Fund

The Fund is professionally managed by Baker Tilly Hughes Blake and will look to invest in a wide range of eligible Irish companies including hotels, manufacturing businesses, nursing homes and wind farms. The fund will have money to invest from 1 January 2017 with investment allocations ranging from €1 million to €5 million in any one company.

If you would like to find out more about the Goodbody 2016 EIIS Fund or to get a copy of the Fund’s prospectus, then please don’t hesitate to give us a call.