VCM40050 - Enterprise Investment Scheme (EIS): Deferral Relief - shares issued on or after 6 April 1998: Length of period

TCGA92/SCH5B/PARA19; ICTA88/S291 (6) & ITA/S159(4)

For shares issued on or after 6 April 1998 and before 6 April 2000 the period mentioned is the seven-year period which is that:

• beginning two years before the issue of the shares, and
• ending five years after the issue of the shares,

except that, where value is received on or after 7 March 2001, the period is reduced to the period of restriction, see below.

For shares issued on or after 6 April 2000 and before 7 March 2001, the seven-year period is reduced to “the designated period” which is that:

• beginning two years before the issue of the shares, and
• ending immediately before the termination date, see VCM38070, relating to those shares,

except that, where value is received on or after 7 March 2001, the period is reduced to the period of restriction, see below.

For shares issued on or after 7 March 2001, the period is “the period of restriction” (“Period C” in ITA) which is that:

• beginning one year before the issue of the shares, and
• ending immediately before the termination date, see VCM38070, relating to those shares.