1 Mins
HMRC have announced a new mandatory online process for preparing and submitting SEIS and EIS advance assurance applications. This should hopefully streamline the process as (unlike the old form) the new application can be saved in draft for up to 28 days. Gone, too, is the cumbersome and time-consuming checklist which HMRC had introduced.
SEIS and EIS are twin schemes aimed at helping younger trading companies to obtain equity finance. Where the conditions are met, they offer valuable tax reliefs to investors. Obtaining “advance assurance” that the conditions are likely to be met in advance of the share issue is not mandatory, but it is recommended if tax relief is important to investors (and indeed, your investors may require it to be in place before proceeding with investment).
Please get in touch to discuss how SEIS and/or EIS might help your company to raise funds.