The EIS and SEIS schemes allow companies to apply for ‘advance assurance’ from HMRC before raising funds. This effectively provides reassurance to investors that, based on the information provided to HMRC, the company’s upcoming share issue would qualify for EIS/SEIS relief. It’s commonplace for investors to want advance assurance before making an investment.
Following on from the investment, there’s then the task of issuing the shares but also submitting the official EIS/SEIS application to HMRC. This application will be required regardless of whether the advance assurance is submitted. HMRC will then confirm the EIS/SEIS relief providing that all the conditions are met and the business can then provide the EIS/SEIS certificates to investors, which enables them to claim the tax relief.
At UHY (East), we can help with all of these tasks and support you throughout this fundraise starting with establishing your eligibility. Our Tech & High Growth department regularly works with businesses that go through fundraising rounds, so we can be on hand not just to support with the EIS/SEIS, but also all the other advice and tasks such as financial modelling that you may require.