I recently learned about the EII scheme and wanted to see if there was a chance I could talk to someone who has availed of it.
Is it as good as it seems? You get a 40% discount on your income tax(30% year 1, 10% year 4), and you also get whatever is left of your investment in year 4.
@dkwassom Just to give ppl a flavour. I've done this 3 times. All through Davy stockbrokers. They pick the companies and do all the heavy lifting. You need to get in now though as it closes on the 31st dec. Companies go bust and did. Companies get bought out b4 the 4 years is up and did (but you get compensated for this but cannot claim eis relief for that company). So for me it hasn't all paid back yet and I reckon overall I'll make a little bit of profit. I can't say for sure yet as isn't closed out yet. The other thing is it's not really a 4 year investment as you have to wait for Davy to get all the cash back from the cpanies which could take 5 ish years. Again I can't confirm this yet. When I did it it was 30% on yr 1 and 10% on 4 I think. Now it's 40% yr 1 which is much better. Also companies can comply easier now aswell with the revenue rules. If I was back again I'd just invest in ETFs and leave it sit but it's a fun high risk investment at the Same time. There is a bit of work aswell recording all the data Davy send you on etc etc. I might do it again but I'm going to see the % return aswell.
