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Income and Corporation Taxes Act 1988
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Changes over time for: Section 290
Version Superseded: 22/07/2004
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Income and Corporation Taxes Act 1988, Section 290 is up to date with all changes known to be in force on or before 07 July 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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290 Minimum and maximum subscriptions.U.K.
M1(1)Subject to section 311(3), the relief shall not be given in respect of any amount subscribed by an individual for eligible shares issued to him by any company in any year of assessment unless the amount or total amount subscribed by him for the eligible shares issued to him by the company in that year is £500 or more.
[F1(2)An individual shall not be eligible for relief in any year of assessment in respect of any amount subscribed for eligible shares exceeding [F2£150,000] (whether the shares are issued in that or a subsequent year).]
Textual Amendments
F1S. 290(2) substituted (with effect as mentioned in s. 137(2), Sch. 15 para. 3(2)-(4) of the amending Act) by Finance Act 1994 (c. 9), Sch. 15 para. 3(1)
F2Words in s. 290(2) substituted (with effect in accordance with s. 74(3) of the amending Act) by Finance Act 1998 (c. 36), Sch. 13 para. 4
Modifications etc. (not altering text)
C1 See 1988(F) s.35and Sch.3 para.12(3)(b)for application to husband and wife where amounts are subscribed in 1990-91.
Marginal Citations
M1Source-1983 Sch.5 3; 1987 s.42(3)
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