Other tax relief deductions 07 - Subscriptions for shares under the Enterprise Investment Scheme
If you invested in shares that were issued during the year 6 April 2020 to 5 April 2021, or during the year 6 April 2021 to 5 April 2022, and you're carrying back relief - read Helpsheet 341 - Enterprise Investment Scheme - Income Tax relief, you may be able to claim Income Tax relief under the Enterprise Investment Scheme.
The amount by which your tax liability will be reduced will be the smaller of:
- the amount you subscribed, up to a maximum of £2 million*
- the amount that reduces your tax bill to zero for the year
*Any amount over £1 million must be for shares issued by a knowledge-intensive company.
To be able to claim relief you must first have received either a form EIS3 Enterprise Investment Compliance Certificate from the company you invested in, or a form EIS5 'Enterprise Investment Scheme Certificate and claim relief 'from the fund manager of an approved investment fund.Receipt of a form EIS3 or EIS5 dies not mean you automatically qualify for any relief, Helpsheet 341 - Enterprise Investment Scheme - Income Tax relief, explains the qualifying conditions you must meet to be eligible for tax relief.
Enter the total amount of the subscriptions on which you are claiming relief, up to a maximum of £2 million, for the year year 6 April 2020 to 5 April 2021 and provide the Following details of each investment in the 'additional information' field:
- the Unique Investment Reference (UIR)
- the name of the company invested in
- the date of issue of the shares
The total amount of the subscription on which you are claiming relief for the year 6 April 2020 to 5 April 2021, if you have subscribed more than £1 million, or £2million where the amount over £1million is on knowledge-intensive companies - Helpsheet 341 Enterprise Investment Scheme - Income Tax relief explains how relief can be allocated to the shares.
