VCM15130 - EIS: income tax relief: withdrawal or reduction of EIS relief: procedure: overview

Where the officer dealing with the affairs of a company becomes aware that relief falls to be withdrawn he or she will need to notify the tax offices dealing with the individuals concerned. »Ê¹ÚÌåÓýapp correct office can be identified from the forms EIS3 or EIS3(Internal) received (see VCM14120).

»Ê¹ÚÌåÓýapp notification will need to include the following details:

  • the reason for the withdrawal,
  • the amount to be withdrawn, if not the whole of the relief
  • the year in which the shares to which the relief relates were issued
  • the EIS relief must be withdrawn or reduced for the tax year for which the income tax relief was obtained
  • the reckonable date for interest (see VCM15160).