VCM25040 - EIS: income tax relief: qualifying for relief

ICTA/S291 (1); ITA/S163

An individual will qualify for relief if he or she subscribes for the shares on their own behalf, or is treated as doing so (see VCM25030), and:

• is not ‘connected' with the company, see VCM25050 to VCM25170, at any time during the period starting two years before the date when the shares are issued and ending immediately before the termination date – (see VCM20600),

or

• is so connected by virtue of being a paid director of the company, but satisfies the conditions in ICTA/S291A (4) and (5) and ITA/S169, see VCM25080.