A significant number of small businesses in the UK do not take full advantage of HMRC-approved...
Want to discuss approval for SEIS Investment under the SEIS? At Key Business Consultants, we get a variety of companies and investors who appreciate our clear and concise communication as well as our industry-leading knowledge on SEIS.
To keep the SEIS tax reliefs, the company who issues the shares has to meet a number of requirements. Most Noteworthy:
- The company must be unquoted at the time of issue of the shares. AIM and PLUS Markets listed companies are eligible.
- The company must have fewer than 25 full-time employees (or part-time equivalents). If the company is the parent company of a group, that figure applies to the whole group.
- The business must have no more than £200,000 in gross assets.
- The company must not have had any investment or issued shares in which it has submitted an EIS compliance statement.
- There is a restriction on how much money the company can raise.
Within 3 years of the date, all the monies raised must be spent for the purposes of a qualifying business activity, carried on either by the issuing company or by a 90% subsidiary, even more, the condition may be considered if an insignificant amount is used for a non-qualifying purpose, or remains unspent.
Any new start-up companies that follow the various rules of the SEIS should be able to attract investment to help them on the road to becoming a successful business.
If you have any questions we offer free consultancy and review of the eligibility for SEIS Investment for your business.