Income Tax Act 2007 section 208

Overview of Chapter

Section 208 provides an overview of the various circumstances in which Enterprise Investment Scheme (EIS) income tax relief may be withdrawn or reduced.

• EIS relief can be withdrawn or reduced if the investor disposes of shares, or if call options or put options are involved
• Relief may also be affected where the investor receives value from the company, or where share capital is repaid to other persons
• Acquisition of a trade, trading assets, or share capital by the company can trigger withdrawal or reduction of relief
• Relief will be withdrawn if it is subsequently found not to have been due in the first place