Revenue Note for Guidance

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Revenue Note for Guidance

S508S Failure to commence a relevant employment (relief under section 508G)


It is a requirement of this Part that a specified individual (that being an individual making a SURE investment) takes up full-time employment for a specified period of 12 months in the company. This employment must be taken up within a certain period.


With regard to a claim made under 508G before a specified individual begins a relevant employment with the company in which that individual has made a relevant investment (being the first investment by the individual in that company), the relief will be withdrawn if that individual does not begin that employment within the year of assessment in which that first investment is made. If it is later, and that first investment is only made by means of one subscription, it must be within 6 months of the date of subscription for eligible shares where only one such subscription was made or if the investment consists of more than one subscription for eligible shares, than 6 months of the last subscription.

Relevant Date: Finance Act 2021