An open letter to HMRC to reinstate the 12 month longstop date for ASAs

SeedLegals has written an open letter to HMRC Ventures Team asking them to reverse the Dec 2019 change they made, without consultation, to the maximum time for an Advance Subscription Agreement / SeedFAST to qualify for SEIS/EIS from 12 months to 6 months.

We think that’s wrong, and right now it’s causing huge problem for many companies.

Given the current Coronavirus (COVID-19) outbreak, we implore you to consider an emergency revision of this guidance by way of a significant retrospective time extension in order to support the UK start up community.

Here’s the letter we sent to HMRC, feel free to download it to inspire yours.

SeedLegals open letter to HMRC Ventures team

HMRC, please reconsider!

— SeedLegals