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Finance Act 2007

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This is the original version (as it was originally enacted).

Enterprise investment scheme: reinvestment

7(1)Schedule 5B to TCGA 1992 is amended as follows.

(2)In paragraph 1 (application of Schedule)—

(a)in sub-paragraph (2), after paragraph (d) insert—

“(da)the total amount of relevant investments made in the company in the year ending with the date the shares are issued does not exceed £2 million,”, and

(b)after sub-paragraph (5) insert—

“(6)Section 173A(3) and (4) of ITA 2007 (meaning of “relevant investment”) apply for the purposes of sub-paragraph (2)(da).

(7)In sub-paragraph (2)(da), the reference to relevant investments made in the company includes relevant investments made in a company that is, or has at any time in the year mentioned there been, a subsidiary of the company (whether or not it was such a subsidiary when the investment was made).”

(3)In paragraph 1A(1) (failure of conditions of application), after “(2)(b)” insert “or (2)(da)”.

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