SCHEDULES:

SCHEDULE 4 Business Expansion Scheme: Private Rented Housing

Part I Modifications Made by Section 50

Restriction of relief where amounts raised exceed permitted maximum

3 (1) In subsection (1) of section 290A (restriction of relief where amounts raised exceed permitted maximum), for “£500,000” there shall be substituted “£5 million”.

(2) In subsection (4) of that section, for the words “any trade or part of a trade” there shall be substituted the words “any qualifying activities” and for “£500,000”, in both places, there shall be substituted “£5 million”.

(3) Subsections (6) to (8), (10) and (11) of that section shall be omitted.