Enterprise investment scheme (EIS)
Acquisition of shares
Aggregation of loan capital and share capital
Allowable losses
Approved investment funds
Assessments
Capital gains tax
Carry-back relief
CGT clawback
Chargeable gains
Claims for relief
Companies, requirements to be met by
Carrying on qualifying business activity
Coal production, excluded activities
Control and independence
Dealing in goods, excluded activities
Electricity, subsidised generation or export
Employment of money raised, time limit
Excluded activities
Financial health
Further rules, maximum risk finance investment
Generally
Gross assets
Hotels and comparable establishments, excluded activities
Issuing company/qualifying subsidiaries to carry on qualifying business activity
Knowledge-intensive companies
Leasing, excluded activities
Location of activity (share issues up to 5 April 2011)
Maximum amount raised under all risk capital schemes
Number of employees
Nursing homes, excluded activities
Overview
Permanent establishment
Permitted maximum age requirement
Property development, excluded activities
Property managing subsidiaries
Provision of services to person carrying on trade, excluded activity
Purpose of the issue
Qualifying activities
Qualifying subsidiaries
Qualifying trades
Relevant research and development
Relevant shares
Residential care homes, excluded activities
Royalties and licence fees, excluded activities
Shares to be unquoted
Shipbuilding, excluded activities
Spending money raised under seed enterprise investment scheme
Steel production, excluded activities
Subsidised generation of heat or production of gas or fuel, excluded activities
Subsidised generation or export of electricity
Trading requirement
When funds are employed
When shares are issued
Company limited by guarantee
Company, meaning under ITA 2007, s. 185
Connected person, meaning
Connected persons
Business angels
Directors
Interest in capital
Issuing company
Control and independence requirement, becoming a 51% subsidiary of another company
Deferral of capital gains
Amount of relief
Anti-avoidance
Background
Bed and breakfasting
Breach of conditions
Chargeable events
Discretionary trusts
Disposals
Eligible shares
Entrepreneurs' relief
Gains accruing on chargeable events
Gross assets
Hybrid trusts
Insignificant value
Interest in possession settlements
Investment-linked loans
Non-resident individuals or spouses
Offshore trusts
Outline of relief
Part disposals: identification rules
Pre-arranged exits
Put and call options
Qualifying business activities
Qualifying companies
Re-investment in same or relevant company
Reconstructions
Reorganisations
Repayment of loans
Replacement value
Residence status
Settlor interest
Trading groups
Trustees
Value received by investor
Winding up
Deferral relief
Generally
Issue of shares
Reinvestment, taper relief
Eligibility for relief
Estates in administration
Generally
Gross assets rule
Identification rules
IHT planning (powers of attorney)
Income tax relief
Assessments
Attribution to shares
Carry-back
Claims
Connected persons
Disqualifying arrangements
Eligibility for
Generally
How relief is given
Information powers
Interest on tax arising from withdrawal or reduction of relief
Loan linked investments
Pre-arranged exits
Prescribed periods
Qualifying investors
Rate
Reporting requirements
Requirements to be met by company
Requirements to be met by investor
Risk-to-capital condition
Transfers between spouses and civil partners
Withdrawal of relief
Information powers
Interest on tax arising from withdrawal or reduction of relief
Investors, requirements to be met by
Business angles
Connected persons
Connections with issuing company
Existing shareholdings requirement
Loan linked investments
Pre-arranged exits
Qualifying investors
Loan linked investments
Losses
Losses on shares
Mergers of business expansion scheme and enterprise investment scheme companies
Pre-arranged exits
Prescribed periods
Qualifying
Activities
Company
Investors
Qualifying business activity
80 percent of share capital not employed in 12-month period
Generally
Refusal to issue certificates
Shares issued to raise money for
Qualifying investors
Re-investment exemption in Seed EIS shares
Attribution of exemption
Claims
Generally
Withdrawal of reduction of exemption
Re-investment relief
Money employed wholly for qualifying business activity
Subscription for eligible shares
Registration of shares before receipt of money/payment of money before application for shares
Relevant shares not meet qualifying conditions
Reliefs available
Reporting requirements
Seed EIS shares
Acquisition of issuing company
Generally
Identification rules
Restriction of exemption where value received
Seed enterprise investment scheme
Share capital taken at nominal value or subscribed value
Share for share exchange
Share incentive plans
Share loss relief
Shares in target company disposed of for purposes of ITA 2007, s. 209
Small or insignificant preferential rights attaching to shares ignored
Transfers between spouses and civil partners
Value received from company
Generally
Identification and quantification
Other persons
Replacement value, exemption
Value received rules
Withdrawal of capital gains tax relief
Withdrawal of income tax relief
Acquisition by new company
Acquisition of existing trade
Acquisition of shares
Call options
Corporate venturing scheme relief withdrawn, exemption
Disposal of shares
Generally
Grant of options
Identification rules, disposal of shares
Put options
Relief subsequently found not to be due
Same day acquisitions, identification rules
Transfer of trade
Value received from company
Withdrawal of relief
Disposal of shares
Generally
Members receiving value from company
Replacement capital
Withdrawing income tax relief
