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HMRC internal manual

Venture Capital Schemes Manual

EIS: deferral relief: shares issued on or after 6 April 1998: indirect receipt by investor

TCGA92/SCH5B/PARA13 (10)

An investor receives value if a relevant payment or disposal is made to him indirectly or to his order or for his benefit.

Any reference to an individual in TCGA92/SCH5B/PARA13 includes a reference to any associate of the individual’s, see VCM23370.

Any reference to a company within TCGA92/SCH5B/PARA13 includes a reference to a person who at any time in the relevant period is connected (within the meaning of TCGA92/S286, see CG14620) with the company, whether or not the connection exists at the date of the receipt.