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Give me an overview of the process for SEIS/EIS ?

There are a number of things you need to do In order to gain full advance assurance and clearance from HMRC so we always recommend you speak an expert before trying to carry out these steps. 

  • The company will need to complete an advance assurance application form, the SEIS/EIS (AA), for more information, see our guide to advance assurance
  • Once advance assurance has been received, typically between 5-6 weeks and providing the company has been trading for a minimum of 4 months, the company will submit SEIS1/EIS1 forms to HMRC. This happens after you have received investment and issued the shares to the investors. 
  • These forms will ensure the requirements have been satisfied and let HMRC know who the subscribers of the new shares are.
  • HMRC will issue the company with an SEIS2/EIS2 form once these forms have been processed within a month and the SEIS3/EIS3 certificates to be distributed to investors.
  • The company can then send out the SEIS3/EIS3 forms to investors, which are the forms necessary for them to claim their tax relief. These forms can be used as part of an investor’s tax return or sent to a local tax office.

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