Schedule 15 - Enterprise investment scheme: amendments
Finance Bill
4:30 pm
Miss Melanie Johnson (Economic Secretary, HM Treasury; Welwyn Hatfield, Labour)
The word ``insignificant'' is defined in the schedule as an amount that does not exceed £1,000, or
``if it does exceed £1,000, is insignificant in relation to the amount subscribed by the individual in question.''.
There are caveats to prevent entitlements to receive value back and to aggregate more than one return of value. The point that I have already made is relevant to the hon. Gentleman's concern: the provision already operates in respect of the corporate venturing scheme and nobody has yet had any difficulty with it. Normally, discussion with the Inland Revenue would resolve any uncertainty. The Revenue stands ready to prepare guidance should it be needed, but there is no indication that it will.