VCM26530 - EIS: income tax relief: withdrawal or reduction of relief: method of

ICTA/S307 (1); ITA/S235

Where relief is to be withdrawn or reduced this is done by making an assessment. The assessment is made in terms of tax, and is made for the year of assessment for which the relief was obtained. As regards shares acquired from a spouse or civil partner, see VCM26050.

When relief is withdrawn or reduced any record of relief kept on the front of folder EIS8 should be noted accordingly.