Can an EIS investor also provide consultancy services?

Can an EIS investor also provide consultancy...

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Once a third party has invested via EIS into a company can they also provide consultancy services, whether via self-employment or through a company?

This would be in addition to any pay via PAYE for the director role.

The only reference I can find in the legislation or HMRC manuals to anything close is in the 'permitted payments to directors' rules in VCM 11060 (i.e. s168(f) ITA 2007) but this doesn't seem clear at all.

There are also references in s216 (value received) to ordinary trade debts being excluded but again this is far from clear.

Any experience anyone has in this area would be hugely welcome!

Thanks

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