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KEY POINTS
- Tax-efficient enterprise investment scheme relief for shares in a company.
- The subscription must be for newly issued shares.
- Income tax relief is by a tax reduction at 30% up to a maximum subscription of £1m.
- The reduction or part of it can be carried back to the previous year.
- The investor and associates must own no more than 30% of the company nor be employees.
- Special provisions allow a director to be eligible for EIS relief
- The company must meet specific conditions.
- An investment can be eligible for capital gains tax deferral relief.
- Capital loss on EIS shares can be set against income.
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