EIS deferral relief is a hold-over relief, not a roll-over relief. In other words, the gain is simply held in suspense until the happening of a ‘chargeable event’ (see ¶566-650). The consideration for the disposal of the original asset and for the acquisition of the relevant shares (see ¶565-760) is not reduced as a consequence of relief. When the relevant shares are sold, the gain on those shares will be calculated on normal rules and will be chargeable in addition to any deferred gain which is deemed to accrue.

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