Most investors will require advance assurance that your company is eligible for SEIS or EIS funding. You should therefore submit an application to HMRC before you start offering investors SEIS or EIS investment opportunities; this is called obtaining advance assurance from HMRC.
When applying for advance assurance, HMRC will require the details of at least one proposed investor. HMRC will also require your business plan and 3-year financial forecast, a copy of your latest accounts (if available), a cover letter, and various other documents outlined in the video below:
You can apply for SEIS & EIS Advance Assurance online on SeedLegals.
Once you’ve submitted, you can follow up and contact HMRC regarding your advance assurance application at any time.
It will generally take 2-3 weeks for HMRC to approve your advanced assurance, providing your application is correct and HMRC have no questions or queries.
Useful links on SEIS/EIS:
- Find SEIS/EIS investors
- Best networking events to meet SEIS/EIS investors
- Important Advance Assurance Rules Change 2018
- What level of business plan is needed for Advance Assurance applications?
- SEIS/EIS compatible ‘convertible note’ style agreement for UK startups
- 8 Things You Didn’t Know About SEIS/EIS Tax Relief