Section 257A Meaning of “SEIS relief” and commencementF1

United Kingdom

(1)

This Part provides for SEIS income tax relief (“SEIS relief”), that is, entitlement to tax reductions in respect of amounts subscribed by individuals for shares in companies carrying on new businesses.

(2)

In this Part “SEIS” stands for the seed enterprise investment scheme.

(F23)

This Part has effect in relation to shares issued on or after 6 April 2012 only.

F3(4)

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Annotations

Textual amendments

F1: Pt. 5A inserted (17.7.2012) (with effect in accordance with Sch. 6 para. 24(1) of the amending Act) by Finance Act 2012 (c. 14), Sch. 6 para. 1
F2: S. 257A(3) substituted (17.7.2014) by Finance Act 2014 (c. 26), s. 54(2)
F3: S. 257A(4) omitted (17.7.2014) by virtue of Finance Act 2014 (c. 26), s. 54(3)

Notes on Part 5A

Modifications

C1: Pt. 5A applied by Taxation of Chargeable Gains Act 1992 (c. 12), Sch. 5BB para. 8(4) (as inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 6 para. 5)