Commentary

E3.1100 Definitions in relation to deferral relief

Personal and employment tax

E3.1100 Definitions in relation to deferral relief

Rules for CGT deferral relief under EIS

E3.1100 Definitions in relation to deferral relief

There are some key definitions relating to deferral relief. These are explained below:

TermDefinition
InvestorThe individual who claims deferral of a chargeable gain by virtue of making a qualifying investment1, see E3.1101.
Original gainThe chargeable gain which is deferred2.
Accrual timeThe time at which the original gain was realised (before deferral)3.
Qualifying companyThis has the same meaning as for EIS income tax relief4, see E3.126.
Qualifying timeAny time in the period beginning one year before and ending three years after the accrual time, or any longer time which the Board may allow5. HMRC will extend the time limit where the claimant can show that they had a firm intention to comply with the time limits, but was prevented from doing so by some fact or circumstance beyond their control, and that

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