(This note is not part of the Regulations)
These Regulations provide that 3rd September 2024 is the appointed day on which section 11 of the Finance Act 2024 (c. 3) comes into force.
Section 11 of the Finance Act 2024 extends tax reliefs for shares issued before 6 April 2035 in respect of the Enterprise Investment Scheme and Venture Capital Trusts by amending section 157(1)(aa) and section 261(3)(za) of the Income Tax Act 2007, respectively.
A Tax Information and Impact Note covering this instrument was published on 22 November 2023 alongside the Autumn 2023 Finance Bill and is available on the website at https://www.gov.uk/government/publications/extension-of-the-enterprise-investment-scheme-and-venture-capital-trust-scheme/enterprise-investment-scheme-and-venture-capital-trusts-scheme-extension. It remains an accurate summary of the impacts that apply to this instrument.