Part 5Enterprise investment scheme

Chapter 7Withdrawal or reduction of EIS relief: procedure

Assessments and appeals

237Time limits for assessments

1

An officer of Revenue and Customs may F2... —

a

make an assessment for withdrawing or reducing the EIS relief attributable to any of the relevant shares, or

b

give a notice under section 234(3)(b),

F4at any time not more than 6 years after the end of the relevant tax year.

2

In subsection (1) “the relevant tax year” means—

a

the tax year in which the time mentioned in section 175(3) (the use of money raised requirement) falls, or

b

the tax year in which the event which causes the EIS relief to be withdrawn or reduced occurs,

whichever is the later.

3

Subsection (1) is without prejudice to section F336(1A) of TMA 1970 F1(loss of tax brought about deliberately etc).