INTRODUCTION
As per Revenue guidelines and due to the implementation of the Finance Act 2022 and amendment in the
taxonomy, we have made changes in Personal Tax Version 14.0 Build 3 for the Tax Year 2022. The major
changes have been made to Personal Tax to comply with Revenue.
MAJOR CHANGES IN TAX YEAR 2022
Major changes include new tax fields and subsections to be filled in where applicable under
Personal Tax Credits
o Tax field under Start-up Relief for Entrepreneurs (SURE)- Amount invested in previous
years and carried forward into 2022
o Tax field under Employment and Investment Incentive: Shares issued in 2022
(undertaking not made under 502(3)(b)) less than 7- Amount invested for less than 7
years in previous years and carried forward into 2022
o Tax field under Employment and Investment Incentive: Shares issued in 2022
(undertaking made under 502(3)(b)) min. 7- Amount invested for at least 7 years in
previous years and carried forward in 2022
o Tax field under SCI: Shares issued in 2022 where an undertaking is not made under
502(3B): shares held for less than 7 years- Amount invested for less than 7 years in
previous years and carried forward in 2022
o Tax field under SCI: Shares issued in 2022 where an undertaking is made under 502(3)(b):
shares held for less than 7 years- Amount invested for at least 7 years in previous years
and carried forward into 2022
o Tax field under Employment and Investment Incentive: Shares issued before 8 October
2021- Amount claimed in previous years and carried forward into 2022 (Max qualifying
relief- £150,000) has been removed
PERSONAL TAX CREDITS
START-UP RELIEF FOR ENTREPRENEURS (SURE)
The Personal Tax Credits tab has new details added under the Start-up relief for Entrepreneur (SURE)
section. A new field has been added. The new field lets the user enter the amount they have invested in the
previous year which has been carried forward into 2022. The tax field has been added for both the user and
their spouse. The new addition is highlighted in Figure 1. The Tax Field added is listed below:
Amount invested in previous years and carried forward into 2022
Figure 1: New Section under Start-up Relief for Entrepreneurs (SURE)
EMPLOYMENT AND INVESTMENT INCENTIVE SHARES ISSUED IN 2022 (UNDERTAKING NOT
MADE UNDER 502(3)(B)) LESS THAN 7
The Personal Tax Credits tab has new details added under the Employment and Investment Incentive
Shares Issued in 2022 (Undertaking not made under 502(3)(b)) less than 7 section. A new field has been
added. The new field lets the user enter the amount they have invested less than 7 years in previous years
and carried forward into 2022. The tax field has been added for both the user and their spouse. The new
addition is highlighted in Figure 2. The Tax Field added is listed below:
Amount invested for less than 7 years in previous years and carried forward into 2022
Figure 2: New Section under Employment and Investment Incentive (EII)
EMPLOYMENT AND INVESTMENT INCENTIVE-SHARES ISSUED IN 2022 (UNDERTAKING MADE
UNDER 502(3)(B)) MIN.7
The Personal Tax Credits tab has new details added under the Employment and Investment Incentive-
Shares Issued in 2022 (Undertaking made under 502(3)(b)) min.7 section. A new field has been added. The
new field lets the user enter the amount they have invested for at least 7 years in previous years and carried
forward into 2022. The tax field has been added for both the user and their spouse. The new addition is
highlighted in Figure 3. The Tax Field added is listed below:
Amount invested for at least 7 years in previous years and carried forward into 2022
Figure 3: New Section under Employment and Investment Incentive (EII)
SCI- SHARES ISSUED IN 2022 WHERE AN UNDERTAKING IS NOT MADE UNDER 502(3B)-
SHARES HELD FOR LESS THAN 7 YEARS
The Personal Tax Credits tab has new details added under the SCI-Shares Issued in 2022 where an
Undertaking is not made under 502(3b)- shares held for less than 7 years section. A new field has been
added. The new field lets the user enter the amount invested for less than 7 years in previous years and
carried forward into 2022. The tax field has been added for both the user and their spouse. The new addition
is highlighted in Figure 4. The Tax Field added is listed below:
Amount invested for less than 7 years in previous years and carried forward into 2022
Figure 4: New Section under Start-up Capital Incentive (SCI)
SCI- SHARES ISSUED IN 2022 WHERE AN UNDE RTAKING IS MADE UNDER SECTION 502(3)(B)-
SHARES HELD FOR A MIN. OF 7 YEARS
The Personal Tax Credits tab has new details added under the SCI-Shares Issued in 2022 where an
Undertaking is made under Section 502(3)(b)- shares held for min. of 7 years section. A new field has been
added. The new field lets the user enter the amount invested for at least 7 years in previous years and
carried forward into 2022. The tax field has been added for both the user and their spouse. The new addition
is highlighted in Figure 5. The Tax Field added is listed below:
Amount invested for at least 7 years in previous years and carried forward into 2022
Figure 5: New Section under Start-up Capital Incentive (SCI)
EMPLOYMENT AND INVESTMENT INCENTIVE- SHARES ISSUED BEFORE 8 OCTOBER 2021
The Personal Tax Credits tab has details removed from the Employment and Investment Incentive- shares
issued before 8 October 2021 section. Two fields have been removed. The tax fields have been removed
for both the user and their spouse. The new addition is highlighted in Figure 6. The Tax Fields removed are
listed below:
Amount claimed in previous years and carried forward into 2022 (Max qualifying relief= £150,000)
Amount claimed in 2022 but unused and carried forward into 2023
Figure 6: New Section under Employment and Investment Incentive (EII)