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Log on to IRIS Personal Tax and select the client.
Click the Reliefs tab, select Business Start-up Investment then select Enterprise Investment Schemes.
Click New
and complete the details within the Enterprise
Investment Schemes screen:
A claim cannot be made until four months after the date trading started
and must be made by the later of:
Two years after the end of the year of assessment (5th April) in which the trade started; or
Two years and four months after the date trading started.
If the shares were acquired in the first half of the tax year (before 6th October), up to 50% with a maximum of £50,000 (25,000 for years up to and including 2005-06) may be carried back to the previous fiscal year. Enter the full amount in the amount of relief field and the amount carried back in the carry back amount field.
If a claim has been made in the following tax year and some of that relief has been carried back to the current tax year, enter the date the claim was made, enter the current year in the 'for year end 5th April' field and the amount being claimed in the current year in the amount of relief field. Leave the carry back amount field blank.
The amount of relief entered here will now be shown on the client’s tax computation within the rate restricted relief section.