E3.156 Amount and form of EIS income tax relief
A qualifying individual (see E3.106) may claim EIS relief on amounts the individual subscribes for relevant shares (see E3.116) in a qualifying company (see E3.126).
It is possible for an individual to claim income tax relief in respect of some, or all, of the shares in relation to which the individual is eligible for relief1. The relief can apply to a single issue or multiple issues of shares and the individual is entitled to the relief in the tax year of issue2.
Amount of EIS relief
The amount of EIS income tax relief given is the lower of tax at the EIS rate, the allowable amount and the tax liability for the year3.
| EIS relief is restricted to the lower of4: | Commentary |
| Tax at the EIS rate | Sum of amounts subscribed in the tax year × 30%5
The amount of the subscription excludes any costs incidental to the subscription6. |
| The allowable |
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