Part 1 The Scheme
Finance Act 2012 (2012 c 14) | Legislation

SCHEDULE 6 Seed Enterprise Investment Scheme

Section 38

Part 1 The Scheme

1

In ITA 2007, after Part 5 (enterprise investment scheme) insert—

“Part 5A
Seed Enterprise Investment Scheme
Chapter 1
Introduction
SEIS relief
257A Meaning of “SEIS relief†and commencement

(1)     This Part provides for SEIS income tax relief (“SEIS reliefâ€), 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.

(3)     This Part has effect only in relation to shares issued—

(a)     on or after 6 April 2012, but

(b)     before 6 April 2017.

(4)     The Treasury may by order substitute a later date for the date for the time being specified in subsection (3)(b).

257AA Eligibility for SEIS relief

An individual (“the investorâ€) is eligible for SEIS relief in respect of an amount subscribed by the investor on the investor's own behalf for an issue of shares in a company (“the issuing companyâ€) if—

(a)     the shares (“the relevant sharesâ€) are issued to the investor,

(b)     the investor is a qualifying investor in relation to the relevant shares (see Chapter 2),

(c)     the general

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