Income Tax Act 2007 section 203

Entitlement to claim

Section 203 sets out the conditions an investor must meet before claiming Enterprise Investment Scheme (EIS) relief, including the requirement to hold a compliance certificate from the issuing company.

• An investor may claim EIS relief on the amount subscribed for shares only if they have received a compliance certificate from the issuing company for those shares.
• EIS relief is disregarded for PAYE purposes unless a formal claim has been duly made.
• An investor cannot apply to postpone tax payments pending an appeal on the grounds of EIS eligibility unless a claim for the relief has already been duly made.
• The compliance certificate acts as the essential gateway document — without it, no valid claim for EIS relief can proceed.