SEIS/EIS Advance Assurance isn’t legally required, it’s optional, but most angel investors will look for a company to have SEIS/EIS Advance Assurance in place before they’ll commit to investing. It generally takes HMRC 2-3 weeks (sometimes as long as 6-8 weeks) to process Advance Assurance applications, so it’s best to get started on this well ahead of starting to talk to potential investors.

When applying for Advance Assurance, HMRC will require details of at least one proposed investor. They’ll also require your business plan and 3-year financial forecast, that you meet the risk to capital condition, a copy of your latest accounts (if available), a cover letter (which we’ll create for you),  and various other documents that we’ll indicate are needed for your particular application.

Here’s our detailed step by step guide to applying for SEIS/EIS Advance Assurance.

Once you’ve submitted your application 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 SEIS/EIS links

Pre-funding:

• Find SEIS/EIS investors with the SeedLegals investor directory
• Best networking events to meet SEIS/EIS investors
• SEIS/EIS Advance Assurance applications need details of at least one investor
• What level of business plan is needed for Advance Assurance applications?‍
• Raise money ahead of a round with an SEIS/EIS compatible SeedFAST‍
• 8 Things You Didn’t Know About SEIS/EIS Tax Relief

Post-funding

• How to issue Share Certificates
• How to do your SEIS/EIS Compliance and give your investors their SEIS/EIS certificates

Want to know more? Hit the chat button or book some time with a member of the team here.