{
  "url": "https://openlegislation.uk/income-tax-act-2007/section-228",
  "json_url": "https://openlegislation.uk/income-tax-act-2007/section-228.json",
  "legislation": "ukpga/2007/3",
  "legislation_title": "Income Tax Act 2007",
  "legislation_url": "https://openlegislation.uk/income-tax-act-2007",
  "path": "section/228",
  "kind": "section",
  "number": "228",
  "heading": "Single issue treated as made partly in previous tax year",
  "text": "(1) This section applies if—\n(a) section 224(2) applies to EIS relief attributable to shares held by an individual, and\n(b) part of the issue of shares has been treated as issued to the individual in a previous tax year for the purposes of section 158(1) and (2) (form and amount of EIS relief).\n(2) This subsection explains how the calculation under section 224(2) is to be made.\nStep 1\nApportion the amount referred to as “R” between the tax year in which the shares were issued and the previous tax year by multiplying that amount by the fraction—\nABwhere—\nA is the amount on which the individual obtains EIS relief in respect of the shares treated as issued in the tax year in question, and\nB is the sum of that amount and the corresponding amount in respect of the shares treated as issued in the other tax year.\nStep 2\nIn relation to each of the amounts (“R1” and “R2”) so apportioned to the two tax years, calculate the amounts (“X1” and “X2”) that would be given by the formula if there were separate issues of shares in those tax years.\nIn calculating amounts X1 and X2, apply section 229 if appropriate but do not apply section 226 or 227.\nStep 3\nAdd amounts X1 and X2 together.\nThe result is the required amount.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/3/section/228",
    "retrieved_at": "2026-10-29T09:13:03.599581+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}