Section 257GE — Income Tax Act 2007: Information to be provided by the investor

Information to be provided by the investor 257GE 1 This section applies if the investor has obtained SEIS relief in respect of the relevant shares, and an event occurs as a result of which—

a the investor is not a qualifying investor in relation to the shares, b the SEIS relief falls to be withdrawn or reduced by virtue of section 257BD (no linked loans requirement),

c the SEIS relief falls to be withdrawn or reduced under—

i section 257FA (disposal of shares),

ii section 257FC (call options), or iii section 257FD (put options), or d the SEIS relief falls to be withdrawn or reduced under section 257FE (receipt of value by the investor), or would fall to be so withdrawn or reduced but for section 257FN (receipt of replacement value).

2 The investor must within 60 days of coming to know of the event give a notice to an officer of Revenue and Customs containing particulars of the event.

3 If the investor—

a is required under this section to give notice of a receipt of value which is within section 257FE, or would be within that section but for section 257FN, and b has knowledge of any replacement value received (or expected to be received) because of a qualifying receipt, the notice must include particulars of that receipt of replacement value (or expected receipt).

4 In subsection (3) “qualifying receipt” and “replacement value” are to be read in accordance with section 257FN.