Part 5Enterprise investment scheme

Chapter 5Attribution of and claims for EIS relief

Claims: supporting documents

204Compliance certificates

1

A “compliance certificate” is a certificate which—

a

is issued by the issuing company in respect of the relevant shares,

b

states that, except so far as they fall to be met by or in relation to the investor, the requirements for EIS relief are for the time being met in relation to those shares, and

c

is in such form as the Commissioners for Her Majesty's Revenue and Customs may direct.

2

Before issuing a compliance certificate in respect of the relevant shares, the issuing company must provide an officer of Revenue and Customs with a compliance statement in respect of the issue of shares which includes the relevant shares.

3

The issuing company must not issue a compliance certificate without the authority of an officer of Revenue and Customs.

4

If the issuing company, or a person connected with the issuing company, has given notice to an officer of Revenue and Customs under section 241 of this Act or paragraph 16(2) or (4) of Schedule 5B to TCGA 1992, a compliance certificate must not be issued unless the authority is given or renewed after the receipt of the notice.

5

If an officer of Revenue and Customs—

a

has been requested to give or renew an authority to issue a compliance certificate, and

b

has decided whether or not to do so,

the officer must give notice of the officer's decision to the issuing company.