Budget 2011: EIS tax relief raised to 30%

Chancellor George Osborne has announced "sweeping changes" will be made to Enterprise Investment Schemes (EIS) to boost small businesses.

Osborne has upped the income tax relief to 30% from 20% and has raised the amount the schemes can invest in one company by 400%. The Chancellor said the amount of people a qualifying company can employ will also increase. The move comes as no surprise as the Chancellor has previously hinted he is looking at changing the schemes rules to make them more attractive.