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Excluded Trades

Most trades are acceptable for SEIS funding, however there are some exclusions. If over 20% of the daily activities of a business involve work in any of the following trades, they will not be eligible for SEIS:

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

  • Property development
  • Agricultural businesses (farming or market-gardening)
  • Dealing in land, commodities or future in stocks, shares, securities or financial products
  • Dealing in goods other than standard retail or wholesale distribution
  • Leasing or letting assets for hire, except ship chartering
  • Receiving royalties or licence fees
  • Legal or accounting services
  • Forestry or timber production
  • Coal mining or production
  • Steel production
  • Shipbuilding
  • Running hotels, or any similar properties such as nursing or care homes
  • Generating or exporting electricity. Exceptions to this are hydro power or anaerobic digestion, or if the business is a community interest company or a co-operative
  • Providing a service to any business trading in one of these activities

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.