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ADVISER SUPPORT
What support is available for advisers
who want to learn more about investing
in EIS and ensure that they have
researched the whole of the market?
ENTERPRISE INVESTMENT
SCHEME ASSOCIATION (EISA)
The EISA is an independent, not-for-profit
organisation, which exists to assist in the
flow of capital and resource available to
British small and medium-sized enterprises
through the Enterprise Investment Scheme
and the Seed Enterprise Investment
Scheme. The website provides details of
the tax reliefs available and information for
companies seeking investment, investors
and advisers. The EISA runs a number
of annual events. Technical seminars
update members on regulatory and tax
changes and have an industry speaker.
The EISA Awards Ceremony takes place at
the Chairman’s Reception at the House of
Lords. The Awards recognise excellence
in various categories in the EIS industry.
The EISA maintains close relations with
the Treasury, HMRC and the FCA to ensure
that EIS works in an efficient manner. One
of their most important achievements to
date was successfully lobbying against
a proposed £50,000 cap on loss relief.
Membership is currently £850 per
annum, for more information on the
EISA or to apply please visit
EIS DIPLOMA
Tolley Exam Training has launched an EIS
Diploma in conjunction with the EISA. The
Enterprise Investment Scheme Diploma is a
comprehensive on-line, ten hour
self-study course followed by an exam. The
syllabus covers all aspects of EIS, including
the tax implications, regulatory aspects,
EIS funds and portfolios. It demonstrates
effective ways to utilise investments
efficiently to maximise the benefits in
an easy and understandable manner.
The diploma is a comprehensive way for
advisers to evidence their knowledge
and understanding of the EIS market.
The total cost is £335 including VAT.
For more information or to register visit the
EISA website at
INDEPENDENT REVIEW SITES
There are a small number of independent
organisations carrying out investment
reviews of EIS opportunities:
Allenbridge provide subscribers with
their Allenbridge Tax Shelter Report, a
newsletter, an online database of VCT
and EIS investment opportunities, listing
open single company opportunities,
funds and managed portfolios and,
where they have been requested, they
also provide their investment reviews for
subscribers. These give an in-depth view of
the investment opportunity covering the
sector, the management, the terms of the
investment and possible risks and returns.
Martin Churchill operates the
Tax Efficient Review.
A new entrant into this space will be
MICAP, which proposes to operate a
similar business model with higher
levels of online functionality and
a broader range of reports.
Allenbridge Tax Shelter Report can be
found at
Tax Efficient Review can be found
at
MICAP can be found at
Advisers using these services can evidence
they have researched the investments
they are putting their clients into. These
services, in combination with general
market research and the EISA diploma,
should put advisers in the best possible
position to advise on EIS investments.
Although not to be considered independent,
some national IFAs and wealth managers
do have in-house research teams which
identify and review EIS opportunities which
can then be recommended by their advisers.
The level of due diligence undertaken may
vary by firm and they may not cover the
whole EIS market. This can, though, aid
advisers in identifying and recommending
suitable EIS opportunities to their clients.
EVENTS
Like many mainstream investment
providers, EIS distributors and EIS
investment providers either host or
participate in a number of events aimed
at promoting their products. These events
usually have a combination of educational
and promotional elements, so their
independence can be questioned, but it
is a format all advisers are familiar with.
Some relevant events include, the FT
Adviser’s Tax Efficient Investing Conference,
the VCT and EIS Investor Forum from Angel
News, the EIS and Angel Investing Showcase
and our own Alternative Investment
Summit devoted several sessions to EIS.
Providers that have been active in
organising and participating in educational
events for advisers include Rockpool, Kuber
Ventures and Octopus among others.
Attendance at these events gives
advisers the opportunity to refresh their
knowledge and learn about new products
and developments in the marketplace.
ADVISER SUPPORT
THE EISA TOLLEY’S DIPLOMA
Comprehensive online, self-study
diploma covering EIS
Designed to give finance professionals
an in-depth understanding of EIS, covering
tax implications, regulatory aspects and
the wider EIS landscape
Launched in 2014
Comprehensive study manual, question
bank and online package including mock
examinations
Interactive examinations taken at a
time to suit participants
EISA accredited certificate on
completion
