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6 Cards in this Set
- Front
- Back
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Threshold income |
Net income less gross amount of pension contributions which basic tax rate relief has been given 200k Income -pers |
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Adjusted income |
240k Net income Occupational contributions paid Employer contributions |
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Eis shares |
Subscribed shares in unquoted trading co Limit of 1mTax reducer 30% Knowledge intensive extra £1m limit Can't create refund Claim for relief within 5 years Can be carried back 1 year Assets below £15m before issue Can't be connected to the company Risk to capital Can't sell shares for 3 years or refund reducer
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Seis shares |
Up to 100k Tax reducer 50% Assets below £200k immediately before share issue Less than 25 full time employees Spent on qualifying activity within 3 years New trade can't be older than 2 years Max capital raised of 150k Can't have raised funds through EIS or VCT Max of 30% of share capital Can set capital loss against income |
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VCT |
Subscribed shares up to 200k 30% reducer no carry back available Exemption on dividends from VCT shares up to £200k Quoted shares VCT company must ensure at least 80% of its investments are in qualifying shares. Max funds in 1 company is 15% Shares sold within 5 years then income tax relief is withdrawn |
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Social investment tax relief (SITR) |
30% tax reducer Any individual who pays UK tax No more than 30% of SC or VR Newly issued shares or new debt In registered charity Community benefit society Cic 1m limit Can't be sold within 3 years Can be carried back 1 year |
