Part III Income Tax, Corporation Tax and Capital Gains Tax

Enterprise investment scheme

71 Eligibility for EIS relief.

1

In section 289 of the Taxes Act 1988 (eligibility for EIS relief), in subsection (1A)—

a

for paragraph (a) there shall be substituted—

a

is a company which—

i

is such a company as is mentioned in section 293(2)(a), and

ii

if it is a subsidiary of the qualifying company, is a 90 per cent subsidiary of that company, or

b

in paragraph (b), for “such a company” there shall be substituted “ a company falling within paragraph (a) above ”.

2

This section applies in relation to shares issued on or after 6th April 1999.