ANNEX 1:: MINOR CHANGES IN THE LAW MADE BY THE BILL This change is adverse to some taxpayers in principle and favourable to others in principle. But it is expected to have no practical effect as it is in line with current practice. Change 50: EIS: value received by other persons: prevent multiple reductions of EIS relief: section 224
This change introduces a provision reducing the chances of one receipt of value causing more than one restriction of EIS relief.
It also brings the enterprise investment scheme into closer alignment with the corporate venturing scheme in Schedule 15 to FA 2000. That is because section 224(6) of this Act is based on paragraph 58(1) of Schedule 15 to FA 2000:
“Any repayment shall be disregarded for the purposes of … to the extent to which investment relief attributable to any shares has already been reduced or withdrawn on its account.”