Note that this scheme closed to new investment from 6 April 2023 onwards.
The basic principle is that SI relief is reduced or withdrawn by an amount produced by the value received multiplied by the SI rate in force for the year relief was given. The various complicating factors are:
- Ìý
(a)ÌýÌýÌýÌý receipts deemed insignificant are ignored;
- Ìý
(b)ÌýÌýÌýÌý there may be more than one issue of investments by the SE;
- Ìý
(c)ÌýÌýÌýÌý there may be a preceding year claim;
- Ìý
(d)ÌýÌýÌýÌý the investor's income tax liability may be insufficient to absorb the maximum SI relief that may be claimed.
Each of these factors is examined below. Note that where more than one of factors (b), (c) and (d) apply, they are to be applied in that order1.
Insignificant receipts
An insignificant receipt is ignored for the purposes of the value received rules. A receipt is insignificant if it is less that £1,000 or,
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Web page updated on 17 Mar 2025 14:05