158 Form and amount of EIS relief
Income Tax Act 2007 (2007 c 3) | Legislation

158  Form and amount of EIS relief

(1)     If an individual—

(a)     is eligible for EIS relief in respect of any amount subscribed for shares, and

(b)     makes a claim in respect of all or some of the shares included in the issue,

the individual is entitled to a tax reduction for the tax year in which the shares were issued (“the current year”).

This is subject to the provisions of this Part.

(2)     The amount of the tax reduction to which the individual is entitled is the amount equal to tax at the [EIS rate] for the current year on—

(a)     the amount or, as the case may be, the sum of the amounts subscribed for shares issued in that year in respect of which the individual is eligible for and claims EIS relief [(qualifying shares)], or

(b)     if less, [the allowable amount].

[(2ZA)     The allowable amount is—

(a)

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