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Advance Assurance

HMRC operates and Advance Assurance facility which certifies that at the time of application, the business was SEIS-compliant. This certification lets investors know that all the criteria necessary to qualify for the scheme have been met by the company.

The following information must be submitted to an HMRC representative in the Small Companies Enterprise Centre (SCEC) to gain Advance Assurance:

  • The business’ trade
  • Structure
  • Financial forecast
  • A proposal for shared capital and equity
  • Whether the investor intends to claim SEIS relief once shares are purchased

Although Advance Assurance does certify that the company qualifies for SEIS at the time of application, it doesn’t mean it always will. If any circumstances change within the business over the course of investment through SEIS, it could result in exclusion form the scheme and the tax relief not being granted.

By securing Advance Assurance, businesses will find they are more attractive to investors keen on securing the tax incentives offered by SEIS.