Income Tax Act 2007 section 156

Meaning of "EIS relief" and commencement

Section 156 introduces the Enterprise Investment Scheme (EIS) income tax relief, defining key terms and establishing when the provisions take effect.

• EIS relief is a tax reduction available to individuals who subscribe for shares in qualifying companies
• "EIS" stands for the Enterprise Investment Scheme, and "EIS relief" is the label for the income tax reduction it provides
• These provisions apply only to shares issued on or after 6 April 2007
• Transitional provisions and savings in Schedule 2 may modify how the commencement rules apply in certain circumstances