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Tony Tax
Tony Tax, Tax Consultant
Category: UK Tax
Satisfied Customers: 15711
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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Please could I get some advice on a tax question I have

Customer Question

Hello, please could I get some advice on a tax question I have related to a £5,000 investment in an EIS qualified UK film? My investment was made through my brother-in-law’s film company set up for the investment. Consequently, his company have been issued EIS shares. Is there a way to pass title of the EIS shares for my portion of the investment in order to be able to claim relief in my self-assessment form? Thanks
Submitted: 11 months ago.
Category: UK Tax
Expert:  Tony Tax replied 11 months ago.

Hi.

EIS relief is only available to individuals who subscribe for shares in their own name or though a nominee as you will read in note 1.2 here. I cannot understand why the shares were issued to a company by a company that has clearly investigated the qualifying criteria for accepting EIS investments. You could try to claim the relief and say that your brother-in-law's company is a nominee for you but I cannot see HMRCaccepting that. All I can suggest is you go back to the company which issued the shares and ask them to reissue the certificates.

I hope this helps but let me know if you have nay further questions.

Expert:  Tony Tax replied 10 months ago.

Hi, I'm just checking in to find out if you need further advice or clarification.

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