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

ICTA/S307 (1); ITA/S235

EIS reliefis made by raising a Special Assessment using CODA function SA. The assessment will be for the year of assessment for which the relief was obtained.

Making such an assessment needs a CODA record (function ND). Where function SA has been selected you will need to enter Section Code 10 and an amount in £s. The assessment issued will display;

“Tax relief for investments in corporate trades withdrawn”

Further guidance can be found at CO720 and CO3154.

Where possible the shares in question were acquired from a spouse or civil partner, the assessment will be on the person they were transferred to (see VCM26050).