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HMRC internal manual

Venture Capital Schemes Manual

HM Revenue & Customs
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EIS: income tax relief: the investor: no connection with the issuing company


An individual will qualify for relief if he or she subscribes for the shares on their own behalf, or is treated as doing so (see VCM10520), and:

  • is not ‘connected’ with the company (see VCM11050+) at any time during period A - (see VCM10540 for periods),


  • is so connected by virtue of being a paid director of the company, but satisfies the conditions in ITA07/S169, see VCM11060.