Taxation of Chargeable Gains Act 1992 Schedule 5B paragraph 6

Claims

Schedule 5B paragraph 6 sets out how the Enterprise Investment Scheme (EIS) claims procedure applies when an investor wishes to claim capital gains tax deferral relief under this Schedule.

• The standard EIS claims procedures from ITA 2007 (sections 202, 203 and 204–207) apply to claims for CGT deferral relief under this Schedule, covering time limits, entitlement to claim, compliance certificates and penalties for fraud.
• Wherever those EIS provisions refer to the requirements for income tax relief, this should be read instead as a reference to the conditions for deferral relief under this Schedule.
• The company must issue compliance certificates and the investor must make the claim within the normal EIS time limits, following the same administrative process as for EIS income tax relief.
• Penalties for fraudulent certificates or statements under the EIS rules apply equally to claims made under this Schedule.