VCM25220 - Enterprise Investment Scheme (EIS): Income Tax relief: Associates - trustees

The trustee or trustees of any settlement to which (c) of VCM25200 applies are associates of the individual claiming relief, and therefore any rights or powers which they possess as trustees of that settlement are, in effect, deemed to belong to the individual. This does not, however, apply to any rights or powers they may have in other capacities, for example, in relation to shares owned by them personally or as trustees of other settlements of which neither the individual nor any of his relatives (living or dead) within (a) of VCM25200 is or was the settlor.

Where (d) of VCM25200 applies, an individual interested by virtue of the trust in shares or obligations of the company which are subject to the trust has as his associate only the trustee or trustees of that trust. Any rights and powers they possess as trustees are deemed to belong to him but not any rights and powers they possess in any other capacity.