EIS/SEIS - Advance Assurance Application

Companies considering using the Enterprise Investment Scheme or the Seed Enterprise Investment Scheme may find it useful to have advance assurance that HMRC will regard the shares to be issued as satisfying the requirements

Assurance may be sought using form EIS/SEIS(AA).

Before giving an assurance, the HMRC officer considering the application will need to be satisfied that:

  • the company can be expected to be a qualifying company (VCM20500);
  • the shares to be issued will be eligible shares (VCM12010);
  • the shares will be issued to raise money for a qualifying business activity (VCM12070);
  • the money raised is to be employed only by companies that satisfy the rules of the scheme (VCM12100).

The VCM references above are to the relevant pages of HMRC's Venture Capital Schemes Manual, available via the 'Related links' section on this page.

If the company wishes to rely on an assurance, the onus is on it to provide all relevant information, drawing attention to any particular issues which the director(s) consider could mean that the company may not meet the requirements of the scheme when the shares are issued.

It is important that all information given is correct, as the HMRC officer considering the application will be relying on it; it is not part of considering the application to check the accuracy of the information.

Provided that correct and complete information has been given, HMRC will normally be bound by any assurance given, even though this assurance is not statutory.

Related links

HMRC: for EIS/SEIS(AA)

HMRC: Venture Capital Schemes Manual