VCM23450 - EIS: deferral relief: shares issued on or after 6 April 1998: return of value to be disregarded
TCGA92/SCH5B/PARA14A
Where an investing company has its investment relief withdrawn or reduced by reason of a repayment being received by another member of the company, (FA00/SCH15/PARA56 (2)), the circumstances may result in gains deferred under the EIS being revived. In certain circumstances these repayments are disregarded for the purposes of the EIS.
The conditions are that the 바카라 사이트˜the relevant amount바카라 사이트™ must not exceed £1,000 and there must have been no 바카라 사이트˜repayment arrangements바카라 사이트™ in existence at any time in the period beginning one year before the issue of the shares (on which investment relief is withdrawn or reduced) and ending at the end of the issue date.
바카라 사이트˜The relevant amount바카라 사이트™ is calculated using the formula:
X - 5Y where:
X = the amount of the repayment,
Y = the aggregate amount of the investment relief withdrawn by reason of the repayment.
바카라 사이트˜Repayment arrangements바카라 사이트™ means arrangements that provide for a repayment by the issuing company (or any subsidiary of that company), or for anyone to be entitled to such a repayment, at any time. This applies whether or not the subsidiary referred to was such a subsidiary at the time of the repayment or when the arrangements were made.
바카라 사이트˜Subsidiary바카라 사이트™ has the meaning in TCGA92/SCH5B/PARA14 (7), see VCM23440.