Part 5Enterprise investment scheme
Chapter 1Introduction
Miscellaneous
161Other tax reliefs relating to EIS
(1)
Chapter 6 of Part 4 (losses on disposal of shares) provides for relief against the income of an individual who incurs an allowable loss for capital gains tax purposes on a disposal of shares to which EIS relief is attributable.
(2)
Subsection (3) of section 392 (loan to buy interest in close company) provides that subsection (2)(a) of that section does not apply if at any time—
(a)
the individual by whom the shares are acquired, or
(b)
that individual's spouse or civil partner,
makes a claim for EIS relief in respect of the shares.
(3)
Section 150A of TCGA 1992 makes provision about gains or losses on the disposal of shares to which EIS relief is attributable.
(4)
Schedule 5B to TCGA 1992 provides relief in respect of the re-investment under EIS of the proceeds of assets disposed of in circumstances where there would otherwise be a chargeable gain.
F1(5)
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