Currently, an individual can claim income tax relief on 30% of the amount invested up to the first £500,000 of qualifying investments in any one tax year, provided the individual subscribes for at least £500 of shares in that tax year. This can be spread over several qualifying subscriptions.
What are the conditions?
The company raising the funds must:
• have a permanent establishment in the UK
• be unquoted (which includes AIM-listed companies)