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. Sign up to apply for SEIS/EIS Advance Assurance on SeedLegals.
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.