Income Tax Act 2007 section 256A

Meaning of "the EIS original rate"

Section 256A defines "the EIS original rate" for the purposes of Enterprise Investment Scheme relief.

  • The EIS original rate is the rate of EIS income tax relief that applied when the relief was first obtained.
  • The rate is fixed by reference to the tax year in which the EIS relief was claimed.
  • This definition applies throughout this Part of the Act wherever the term is used.
  • The definition was introduced by Finance Act 2011 to support changes to EIS relief rates.

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