1.119 To encourage investment in new start-up companies the Government will launch a new Seed Enterprise Investment Scheme (SEIS) from April 2012, offering 50 per cent income tax relief on investments, and will offer a capital gains tax exemption on gains realised in 2012-13 and then invested through SEIS in the same year. In addition, the Government will simplify and refocus the Enterprise Investment Scheme and Venture Capital Trusts.
1.120 The Government will extend the current small business rate relief holiday for a further six months from 1 October 2012. The Government will also give businesses the opportunity to defer 60 per cent of the increase in their 2012-13 business rate bills as a result of the RPI uprating, to be repaid equally across the following two years. The devolved administrations will be provided with Barnett consequentials to facilitate similar action if they choose to.