HMRC offers an advance assurance application service for both the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS).
Companies can apply to HMRC in advance of offering shares under either scheme to check that they meet the stringent qualifying criteria.
Companies will need to complete an application form to provide the following information for HMRC:
The following documents and information are required:
- Details of the amounts intended to be raised
- Details of what these monies will be used for
- Latest company accounts and accounts of any subsidiary company
- Details of all trading or other activities to be carried on by the company and any subsidiary
- and details of which company(ies) will use the money raised by the share issue
- The latest draft of any prospectus or similar document (such as a business plan) to be issued
- to potential investors
- An up-to-date copy of the Memorandum and Articles of Association with details of any
- changes to be made
- Details of any subscription agreement or other side agreement to be entered into by the shareholders
- Any other information relevant to this application
For SEIS applications only:
- Details of any other ‘de minimis aid’ received
- Confirmation that no shares which qualified for EIS have previously been issued or that the company has not received any previous investment from a Venture Capital Trust
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