How will deferrals under Enterprise Investment Scheme (EIS) be treated?
. EIS deferral relief remains unchanged. Where the chargeable gain to be deferred arises before 6 April 2008 indexation allowance will be available, where appropriate. A chargeable gain is the gain after other reliefs and deductions etc, but is not the taxable amount after taper relief has been applied. Taper relief under section 2A is applicable where a person has net chargeable gains after deduction of allowable losses in a year of assessment. But taper relief will not be available for the tax year 2008-09 and later years. So if the deferred gain becomes chargeable on or after 6 April 2008 there will be no taper relief available.
