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HMRC internal manual

Venture Capital Schemes Manual

HM Revenue & Customs
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EIS: deferral relief: shares issued before 6 April 1998: what gains qualify?


The relief can be claimed against any chargeable gain arising on the disposal of an asset on or after 29 November 1994. The chargeable gain is the gain after mandatory deductions such as indexation allowance and retirement relief and reliefs which the taxpayer has to claim such as ill-health retirement relief. The investor may claim deferral relief on less than the whole of his chargeable gain. Deferral can also be claimed when a gain previously deferred under the VCT Scheme or the EIS is brought back into charge. See VCM53000 onwards for guidance on deferral under the VCT Scheme.