The ‘Sunset Clause’ And Its Potential Impact On EIS Tax Relief

Investors have been encouraged to invest in early-stage start-ups by various venture capital schemes, including the Seed Enterprise Investment Scheme (“SEIS”), Enterprise Investment Scheme (“EIS”) and Venture Capital Trust Scheme (“VCT”), which have greatly benefited the UK economy. The EIS scheme saw 3,755 companies raise a total of £1.66bn between 2021 and 2022, while 4,165 firms raised £1.89bn the year prior, according to data from HM Revenue & Customs.

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Changes to HMRC SEIS/EIS Guidance for Film and TV Companies

HMRC updated its Venture Capital Schemes Manual VCM8560 on 15 March 2021.

The update is regarding Example 3 of VCM8560 which presents an example of a qualifying film company.

The new guidance provides further clarity on how the risk-to-capital condition applies to Film and TV production companies that are seeking SEIS/EIS advance assurance approval.

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SEIS and EIS and Successfully Raising Early Stage Investment Rounds Webinar

The Jonathan Lea Network will be hosting another webinar which we welcome you to join for free. 

This webinar will focus on the SEIS and EIS tax reliefs and successfully raising early stage investment rounds.  The team at JLN advise on hundreds of these matters every year. It will take place on Tuesday 6th October at 5pm.

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How To Complete The SEIS 1 And EIS 1 Compliance Statement And Claim The Tax Reliefs

Following a company raising investment pursuant to SEIS and/or EIS, an overview of the process whereby the company submits a compliance statement in order to receive certificates that are then distributed to investors who can then claim their individual tax reliefs.

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