The following Corporation Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
The enterprise investment scheme (EIS) is a scheme that encourages individuals to invest money in shares issued by qualifying unquoted companies with a permanent establishment in the UK.
A subscription for eligible shares of a qualifying EIS company is a tax efficient investment for the individual. He can benefit from the following tax reliefs:
This guidance note discusses the occasions that may result in the income tax relief being withdrawn or reduced. For the mechanism of calculating the withdrawal or reduction of relief, see the How to calculate the clawback of relief guidance note.
Broadly, income tax relief is withdrawn if within three years of subscription (or three years from the commencement of the trade, if later):
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