Finance (No. 2) Act 2017

PART 2 Consequential amendments

11 (1) ITA 2007 is amended as follows.

(2) In section 178A (EIS: the no disqualifying arrangements requirement), in subsection (6), in the definition of “relevant tax relief” after paragraph (b) insert—

“(ba) SI relief under Part 5B in respect of the shares;”.

(3) In section 257CF (SEIS: the no disqualifying arrangements requirement), in subsection (6), in the definition of “relevant tax relief” after paragraph (b) insert—

“(ba) SI relief under Part 5B in respect of the shares;”.

(4) In section 299A (VCTs: the no disqualifying arrangements requirement), in subsection (6), in the definition of “relevant tax relief” after paragraph (c) insert—

“(ca) SI relief (within the meaning of Part 5B) in respect of the shares;”.

12 In Schedule 6 to FA 2015 (investment reliefs: excluded activities) omit paragraph 13 (which is superseded by paragraph 10 of this Schedule).

13 In Part 2 of Schedule 24 to FA 2016 (tax advantages about which information may be obtained from certain persons), after the entry relating to relief granted to investors in a company under the enterprise investment scheme insert—

“Relief granted to investors in a social enterprise

Part 5B of ITA 2007

The social enterprise”