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Income Tax Act 2007

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Changes over time for: Section 227

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Point in time view as at 13/10/2011.

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There are currently no known outstanding effects for the Income Tax Act 2007, Section 227. Help about Changes to Legislation

227Single issue affecting more than one individualU.K.
This section has no associated Explanatory Notes

(1)This section applies if, in relation to the same repayment, section 224(2) applies to EIS relief attributable to shares held by two or more individuals.

(2)Section 224(2) has effect in relation to each individual as if the amount referred to as “R” were reduced by multiplying it by the fraction—

where—

A is the amount on which the individual obtains EIS relief in respect of the shares to which EIS relief is or, but for section 224(2)(b), would be attributable, and

B is the sum of that amount and the corresponding amount or amounts on which the other individual or individuals obtain EIS relief in respect of such shares.

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