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HMRC internal manual

Venture Capital Schemes Manual

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

ITA07/S163

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),

or

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