An enterprise investment scheme (EIS) relief claim made by a group of six companies has failed at the First-tier Tax Tribunal (FTT) because the companies concerned had not commenced qualifying trades inside the two-year deadline. The FTT’s criterion for commencement was ‘when the business is open for business’, with the trader ready, willing and able to provide goods or services, even if a sale has not yet occurred. In this case, main projects that were still incomplete at the two-year deadline did not qualify (York SD v HMRC, 2025 UKFTT 877 TC).
Disclaimer
The information on this Blog is for general purposes only on matters of interest. The Company assumes no responsibility for errors or omissions in the content of the Blog. Even if the Company takes every precaution to ensure the Blog’s content is current and accurate, errors can occur. Given the changing nature of laws, rules, and regulations, there may be delays, omissions, or inaccuracies in the information on the Blog. The Company is not responsible for errors, omissions, or results from using this information. The Company reserves the right to make additions, deletions, or modifications to the Blog’s contents without prior notice.
In no event shall the Company be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action of contract, negligence, or another tort, arising out of or in connection with the use of the Blog or the contents of the Blog. The Company does not warrant that the Blog is free of viruses or other harmful components.
Please read our disclaimer policy.
