The Enterprise Investment Scheme (EIS) is designed to encourage investment in smaller, higher-risk trading companies by offering a range of tax reliefs to individual investors purchasing newly issued shares in those companies. The EIS regime is prescriptive and sets out numerous requirements that must be met, including in relation to: • the individual investors (see Practice Note: EIS—conditions for relief: individual investor conditions) • the issued shares (see Practice Note: EIS—conditions for relief: issued shares, the funds raised and the arrangements in general), and • the issuing company (see Practice Notes: EIS—conditions for relief: issuing company and EIS—conditions for relief: qualifying trades) While the rest of the Practice Notes in this subtopic assume that the individual investor subscribes for shares directly in an EIS-qualifying company, it is also possible for investors to qualify for EIS relief by subscribing via an EIS fund (provided all the conditions for EIS relief are otherwise met). Many EIS fund structures rely on the specific rule explained below permitting EIS shares to be held by a nominee or

“the EIS original rate”, in relation to EIS relief, means the EIS rate for the tax year for which the EIS relief was obtained.

FORTHCOMING CHANGE: call for evidence on tax support for entrepreneurs: At Budget 2025, the government published a call for evidence on the impact of existing tax incentive schemes and options to provide further support for entrepreneurs. The call for evidence, which closed on 28 February 2026, seeks to understand the effectiveness of the current EIS and VCT schemes, to explore potential new ways to support scaling companies that have reached the VCT and EIS limits and to gather evidence about how tax policies might seek to encourage different types of investors. The Enterprise Investment Scheme (EIS) is designed to encourage investment in smaller, higher-risk trading companies by offering a range of tax reliefs to individual investors purchasing newly issued shares in those companies. For full details of these tax reliefs, see Practice Note: EIS—introduction to regime and description of tax reliefs. In summary, these reliefs include: • income tax relief at 30% of the amount invested up to an annual investment limit of £1m (or up to £2m provided at least £1m is invested

The enterprise investment scheme (EIS) is designed to encourage investment in smaller, higher-risk trading companies by offering a range of tax reliefs to individual investors purchasing newly issued shares in those companies. The EIS regime is prescriptive and sets out numerous requirements that must be met, including in relation to: • the individual investors • the issued shares, and • the issuing company This Practice Note focuses on the conditions applicable to the individual investor. These conditions are described in the context of the income tax relief provided for in Part 5 of the Income Tax Act 2007 (ITA 2007). References to the corresponding capital gains tax (CGT) rules are also provided where relevant. For details of the other conditions see Practice Notes: • EIS—conditions for relief: issued shares, the funds raised and the arrangements in general • EIS—conditions for relief: issuing company • EIS—conditions for relief: qualifying trades For an explanation of the various tax reliefs available to qualifying EIS investors see Practice Notes: EIS—introduction to regime and description of tax reliefs

FORTHCOMING CHANGE: call for evidence on tax support for entrepreneurs: At Budget 2025, the government published a call for evidence on the impact of existing tax incentive schemes and options to provide further support for entrepreneurs. The call for evidence, which closed on 28 February 2026, seeks to understand the effectiveness of the current EIS and VCT schemes, to explore potential new ways to support scaling companies that have reached the VCT and EIS limits and to gather evidence about how tax policies might seek to encourage different types of investors. The Enterprise Investment Scheme (EIS) is designed to encourage investment in smaller, higher-risk trading companies by offering a range of tax reliefs to individual investors purchasing newly issued shares in those companies. The EIS regime is prescriptive and sets out numerous requirements that must be met, including in relation to: • the individual investors • the issuing company, and • the issued shares, the funds raised and the arrangements in general This Practice Note

FORTHCOMING CHANGE: call for evidence on tax support for entrepreneurs: At Budget 2025, the government published a call for evidence on the impact of existing tax incentive schemes and options to provide further support for entrepreneurs. The call for evidence, which closed on 28 February 2026, seeks to understand the effectiveness of the current EIS and VCT schemes, to explore potential new ways to support scaling companies that have reached the VCT and EIS limits and to gather evidence about how tax policies might seek to encourage different types of investors. The EIS is designed to encourage investment in smaller, higher-risk trading companies by offering a range of tax reliefs to individual investors purchasing newly issued shares in those companies. The EIS regime is prescriptive and sets out numerous requirements that must be met, including in relation to: • the individual investors • the issuing company, and • the issued shares, the funds raised and the arrangements in general This Practice Note focuses on the conditions applicable to the issuing company and its

FORTHCOMING CHANGE: call for evidence on tax support for entrepreneurs: At Budget 2025, the government published a call for evidence on the impact of existing tax incentive schemes and options to provide further support for entrepreneurs. The call for evidence, which closed on 28 February 2026, seeks to understand the effectiveness of the current EIS and VCT schemes, to explore potential new ways to support scaling companies that have reached the VCT and EIS limits and to gather evidence about how tax policies might seek to encourage different types of investors. The enterprise investment scheme (EIS) is designed to encourage investment in smaller, higher-risk trading companies by offering a range of tax reliefs to individual investors purchasing newly issued shares in those companies. The EIS regime is prescriptive and sets out numerous requirements that must be met, including in relation to: • the individual investors (see Practice Note: EIS—conditions for relief: individual investor conditions) • the issuing company (see Practice Note: EIS—conditions for relief: issuing company), and • the issued shares, the funds raised and

FORTHCOMING CHANGE: call for evidence on tax support for entrepreneurs: At Budget 2025, the government published a call for evidence on the impact of existing tax incentive schemes and options to provide further support for entrepreneurs. The call for evidence, which closed on 28 February 2026, seeks to understand the effectiveness of the current EIS and VCT schemes, to explore potential new ways to support scaling companies that have reached the VCT and EIS limits and to gather evidence about how tax policies might seek to encourage different types of investors. The EIS is designed to encourage investment in smaller, higher-risk trading companies by offering a range of tax reliefs to individual investors purchasing newly issued shares in those companies. One of the principal EIS tax reliefs available to qualifying individual investors is CGT deferral relief allowing an investor to defer tax on capital gains realised on a disposal of assets to the extent that gains are reinvested in EIS qualifying shares. Deferred gains are effectively 'frozen' and held over until the occurrence

FORTHCOMING CHANGE: call for evidence on tax support for entrepreneurs: At Budget 2025, the government published a call for evidence on the impact of existing tax incentive schemes and options to provide further support for entrepreneurs. The call for evidence, which closed on 28 February 2026, seeks to understand the effectiveness of the current EIS and VCT schemes, to explore potential new ways to support scaling companies that have reached the VCT and EIS limits and to gather evidence about how tax policies might seek to encourage different types of investors. The EIS is designed to encourage investment in smaller, higher-risk trading companies by offering a range of tax reliefs to individual investors purchasing newly issued shares in those companies. EIS allows unquoted companies (companies listed on AIM are unquoted for these purposes) that meet certain requirements to raise finance by issuing qualifying shares to qualifying investors. The EIS regime is prescriptive and sets out a number of requirements that must be met, including in relation to: • the individual investors

FORTHCOMING CHANGE: call for evidence on tax support for entrepreneurs: At Budget 2025, the government published a call for evidence on the impact of existing tax incentive schemes and options to provide further support for entrepreneurs. The call for evidence, which closed on 28 February 2026, seeks to understand the effectiveness of the current EIS and VCT schemes, to explore potential new ways to support scaling companies that have reached the VCT and EIS limits and to gather evidence about how tax policies might seek to encourage different types of investors. The EIS is designed to encourage investment in smaller, higher-risk trading companies by offering a range of tax reliefs to individual investors purchasing newly issued shares in those companies. Typically, traditional bank and other financing can be difficult for small and medium-sized enterprises to obtain. The EIS scheme was introduced to address this funding gap, supporting business expansion and promoting economic growth. The EIS regime is prescriptive and sets out numerous requirements that must be met, including in relation

This Practice Note provides an overview of the Pre-Action Protocol for Low Value Personal Injury (Employers’ Liability and Public Liability) Claims (the EL/PL protocol) in particular Stage 1 of the process. For guidance on Stage 2 onwards, see Practice Note: EL/PL claims in the portal—a practical guide (Stage 2 onwards). The Portal The Portal, initially launched for road traffic accident (RTA) claims on 30 April 2010, was extended on 31 July 2013 to cover Employers’ Liability (EL) and Public Liability (PL) claims. See Practice Note: The Pre-Action Protocol for Low Value Personal Injury (Employers' Liability and Public Liability) Claims. The Portal is operated by Claims Portal Limited (CPL), a not-for-profit company made up of 17 non-executive directors, including an independent chairperson. The directors are an equal split of eight claimant stakeholder and eight insurer representatives, appointed by the Association of Personal Injury Lawyers (APIL), the Motor Accident Solicitors Society (MASS), the Trades Union Congress (TUC), the Law Society (on the claimant side) and insurers. The Portal itself is simply intended to provide

This Practice Note provides an overview of the Pre-Action Protocol for Low Value Personal Injury (Employers’ Liability and Public Liability) Claims (EL/PL protocol) from Stage 2 of the process onwards. For guidance on Stage 1, see Practice Note: EL/PL claims in the portal—a practical guide (Stage 1). The Portal The Portal, initially launched for road traffic accident (RTA) claims on 30 April 2010, was extended on 31 July 2013 to cover Employers’ Liability (EL) and Public Liability (PL) claims. For guidance on when the EL/PL protocol applies, see Practice Note: The Pre-Action Protocol for Low Value Personal Injury (Employers' Liability and Public Liability) Claims. Stage 2 Medical reports In order to start Stage 2 of the process, the claimant (C) requires a medical report. The EL/PL protocol states, ‘it is expected that most claimants will obtain a medical report from one expert but additional reports may be obtained from other experts where the injuries require reports from more than one medical discipline’ (para 7.2). The medical expert should identify the