EIS CGT Deferral time limits

How strict are the EIS CGT deferral time limits?

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If an EIS investment of say £50,000.00 was made, and the shares were issued on 5th April 2018, and capital gains of say £50,000.00 above the annual exemption were incurred on 15th March 2015, the EIS investment would strictly be outside the 'one year before, three years after' rule and so no EIS CGT deferral rleief would be possible. How strictly is this rule interpreted? I notice from HMRC guidance at 5.3 below that '

The EIS shares you subscribe for must be issued to you in the period beginning 12 months before, and ending 36 months after, the date of the disposal for which you wish to claim relief. HMRC has discretion to extend these time limits and can explain the circumstances in which they will do this.'

https://www.gov.uk/government/publications/enterprise-investment-scheme-...

Bearing in momd that in the above example, the client will probably have 'subscribed' for the shares before or by 4/4/18 and so fall within the 36 month limit. 

Have any AccountingWeb members' clients been the beneficiaries of this 'disrection?'

Thank you

 

 

 

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