SCHEDULES
SCHEDULE 4EIS and VCT reliefs: knowledge-intensive companies
Initial investing period: permitted age of knowledge-intensive company
I18
In section 294A of ITA 2007 (the permitted company age requirement for VCT relief), in paragraph (a) of subsection (2), for “beginning with the relevant first commercial sale,” substitute
beginning with—
i
the relevant first commercial sale, or
ii
if the relevant company so elects, the date by reference to which that company is treated as reaching an annual turnover of £200,000 (see section 331B),