How do I claim SEIS tax relief?
Claiming SEIS tax relief guide
Also, see our ‘How to claim EIS tax relief guide’ for EIS opportunities.
As per our last post, the Seed Enterprise Investment Scheme (SEIS) enables you to claim up to 50% of the amount you invested (up to £100,000 per tax year) from your income tax bill.
E.g. You invest £50,000 into a SEIS eligible opportunity, you can claim £25,000 from your income tax for that year.
But how do you actually claim this relief?
The following guide will show you how:
Most people claim their SEIS tax relief when they pay their taxes, so for self-assessment that is any time before the 31st of January. This guide will show you how to claim SEIS whilst filling out your online tax return form.
1. On section 3 of the online tax return form, the final question asks if you are claiming “other tax reliefs”, please select “Yes” if you wish to claim SEIS.
2. As requested by the online form, please complete the “Unlisted shares and securities” section to claim your SEIS tax relief.
Every eligible company you invest in will have its own certificate. If you invest through a fund into a portfolio, then you will receive a certificate for each of the companies.
In order to successfully claim your SEIS tax relief, you will need the SEIS3 certificates corresponding to your investments. These certificates contain the information you will need such as:
The name of the company in which you have invested
The amount you have subscribed and on which can claim tax relief
The date the shares were issued (Note: this will most likely be different from the date you invested)
The name of the relevant HMRC office and its reference
Every eligible company you invest in will have its own SEIS3 certificate. If you invest through a fund into a portfolio, then you will receive a certificate for each of the companies.
3. Please enter the value of your SEIS investments into the highlighted question on the online tax return form.
We hope you found this guide clear and easy to follow.
Please note, the above information is not tax advice. If in doubt, please consult HMRC’s full guidance on the subject, or consult a tax specialist.
If you are interested in learning more about SEIS investments, we invite you to read more about our upcoming SEIS/EIS hybrid fund using the button below: