VCM20060 - EIS: disposal relief: investor鈥檚 income tax liability reduced to nil
TCGA92/S150A (3)(c)
The restriction does not apply if the only reason full Income Tax relief cannot be given is because the claim reduces the investor鈥檚 Income Tax liability to nil. For example, an investor subscribes 拢100,000 for 100,000 拢1 ordinary shares in an EIS company. The investor claims Income Tax relief under ITA07/S158. Only 拢16,000 worth of relief can be given before their Income Tax liability is reduced to nil, ITA07/S29(2). The restriction in TCGA92/S150A (3) does not apply.