Negligible Value Claim AND EIS

[anon123]

If you make a negligible value claim on EIS shares within 3 years of issue is the income tax relief originally claimed withdrawn or do you just restrict the loss by the amount claimed? I am not sure if a negligible value claim would be a disposal. S254 ITA 2007 gives the meaning of a "disposal of shares" but does not mention a negligible value claim. If you make a negligible value claim you are treated as if you have sold and reaquired the shares but it is not an actual disposal. Any thoughts?