SCHEDULES
F1SCHEDULE 5B Enterprise investment scheme: re-investment
Postponement of original gain
2
1
On the making of a claim by the investor for the purposes of this Schedule, so much of the investor’s unused qualifying expenditure on F3the relevant shares as—
a
is specified in the claim, and
b
does not exceed so much of the original gain as is unmatched,
shall be set against a corresponding amount of the original gain.
2
Where an amount of qualifying expenditure on F5the relevant shares is set under this Schedule against the whole or part of the original gain—
a
so much of that gain as is equal to that amount shall be treated as not having accrued at the accrual time; but
b
paragraphs 4 and 5 below shall apply for determining the gain that is to be treated as accruing on the occurrence of any chargeable event in relation to any of F6the relevant shares.
3
For the purposes of this Schedule—
F2a
the investor’s qualifying expenditure on F5the relevant shares is the amount subscribed by him for the shares; and
b
that expenditure is unused to the extent that it has not already been set under this Schedule against the whole or any part of a chargeable gain.
Sch. 5B inserted (with effect in accordance with Sch. 13 para. 4(4) of the amending Act) by Finance Act 1995 (c. 4), Sch. 13 para. 4(3)