Hello,
Please could you tell me if the income tax relief for EIS investments can be applied to income from social lending websites (e.g. zopa.com)?
(I seem to remember the EIS scheme is very particular about what sort of income tax relief can be claimed)
Thanks,
Stu
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EIS relief is not set against income
It's a deduction from tax liability. Ss23 - 32 ITA lays out the steps. First calculate total taxable income. Then deduct personal allowances and other reliefs. Then calculate tax liability at appropriate rates. Then deduct EIS relief.