An investor obtains income tax relief for EIS investments at the ‘EIS Rate’ of 30% on the amount of his investment in eligible shares in the tax year, subject to an overall limit (ITA 2007, s. 158(2), (2A)). For shares issued on or after 6 April 2012, that limit is £1m, for issues in the period 6 April 2008 to 5 April 2012, it was £500,000 and for the period 6 April 2006 to 5 April 2008 it was £400,000. From 6 April 2018, the limit is increased to £2m, but no more than £1m can be subscribed for shares that are not shares in a knowledge-intensive company (ITA 2007, s. 158(2ZA)).

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