Explanatory note

This Order specifies the tax year 2008-09 for the purposes of Section 31(1) of the Finance Act 2008. Section 31(1) increases, from £400,000 to £500,000, the maximum amount in respect of which enterprise investment scheme relief is available to an individual.

The effect of the Order is that the increased amount applies for the tax year 2008-09 and subsequent tax years.

Section 31(3) of the Finance Act 2008 provides authority for the retrospective effect of this Order.

A full Impact Assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.