eBrief No. 58/2008 advises that where a company intends to raise BES investments on or before 31 December 2008, and wishes to obtain advance approval from Revenue in respect of such a share issue, that company, or its agent, should have forwarded a fully completed form on or before 14 November 2008.

In the eBrief, Revenue advises practitioners and other interested parties that where a request for ‘Outline Approval’ is submitted after 14 November 2008, no guarantee can be given that a response will issue before the end of the current tax year. Also, Outline Approval is not a requirement of the scheme; rather it is a service Revenue provide to business, which may provide reassurance in relation to eligibility.

The form to complete is RICT Outline Form, which may be downloaded from the Revenue website.

eBrief No. 58/2008 is reproduced at Section 2.07.