Finance Act 2012 (c. 14)

SCHEDULES

SCHEDULE 7 U.K. Enterprise investment scheme

PART 2 U.K. Enterprise investment scheme: chargeable gains

Disposal of shares to which EIS relief is attributable U.K.

27 U.K. In section 150A (disposal of shares to which EIS relief is attributable)—

(a) in subsection (3), in paragraph (b) for “basic rate” substitute “ EIS original rate ”, and

(b) after that subsection insert—

“(3A) In subsection (3) “EIS original rate” has the meaning given by section 256A of ITA 2007, except that where the year mentioned in subsection (3)(b) is the tax year 2007-08 or an earlier year, it means 20%.”

28 U.K. Accordingly, in Schedule 1 to FA 2008, paragraph 48 is repealed.