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Posted Mon, 29 Aug 2022 17:02:39 GMT by James Lord
Hello. If I have sold an EIS investment within the 3y holding period, I understand that the income tax relief received needs to be repaid and CGT applied to any gains. My question is whether it's possible to notify HMRC of this via online self assessment through the capital gains tax section in the following way: The capital gains tax section give the option to provide details of EIS investment disposals, including date of sale and date of purchase. With those dates, does the system automatically recognise whether the disposal took place within the 3y period and thus adjust the tax calculation accordingly?
Posted Mon, 05 Sep 2022 13:56:46 GMT by HMRC Admin 17

This service would only deal with the capital gains aspect. 

You would need to notify HMRC separately, where the relief should be withdrawn. 

HMRC would raise a special assessment under S235 ITA 2007, to collect the excess EIS relief withdrawn   .

Thank you.

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