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Tax Relief Glossary

Capital Gains Tax (CGT)

Capital Gains Tax is a tax on the gain or profit you make when you sell, give away or otherwise dispose of something. It applies to assets that you own, such as shares or property. Rate is 18% or 28% depending on the total amount of your taxable income and gains.

Advanced Assurance (AA)

Companies that are hoping to attract subscriptions under the EIS are encouraged to seek an assurance from HMRC, in advance of inviting applications for shares, to the effect that it is accepted that the conditions of the scheme will be satisfied.

EIS

The Enterprise Investment Scheme (EIS) is designed to help smaller higher-risk trading companies to raise finance by offering a range of tax reliefs to investors who purchase new shares in those companies.

EIS1

The form that ensures your company is compliant with the Enterprise Investment Scheme.

EIS2

The form issued by HRMC that authorises your company to issue the appropriate number of blank EIS3 forms to investors.

EIS3

The form sent by company with which investor can claim tax relief.

SCEC

The Small Company Enterprise Centre manages the EIS  for the HMRC.

SEIS

Seed Enterprise Investment Scheme (SEIS) was introduced in the new tax year 2012 and gives up to 50% tax relief for investors.

 

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