VCM23310 - EIS: deferral relief: shares issued on or after 6 April 1998: length of period

TCGA92/SCH5B/PARA19; ICTA88/S291 (6) & ITA/S159(4)

For shares issued on or after 6 April 1998 and before 6 April 2000 the period mentioned is the seven-year period which is that:

• beginning two years before the issue of the shares, and
• ending five years after the issue of the shares,

except that, where value is received on or after 7 March 2001, the period is reduced to the period of restriction, see below.

For shares issued on or after 6 April 2000 and before 7 March 2001, the seven-year period is reduced to ‘the designated period’ which is that:

• beginning two years before the issue of the shares, and
• ending immediately before the termination date, see VCM23070, relating to those shares,

except that, where value is received on or after 7 March 2001, the period is reduced to the period of restriction, see below.

For shares issued on or after 7 March 2001, the period is ‘the period of restriction’ (‘Period C’ in ITA07) which is that:

• beginning one year before the issue of the shares, and
• ending immediately before the termination date, see VCM23070, relating to those shares.