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The Seed Enterprise Investment Scheme (SEIS) offers great tax efficient benefits to investors in return for investment in small and early stage start-up businesses in the UK.
The Seed Enterprise Investment Scheme (SEIS) was designed to boost economic growth in the UK by promoting new enterprise and entrepreneurship.
The scheme was introduced in the Chancellor George Osborne’s 2011 Autumn Statement which heralded a big shake up of tax incentives for investors, with the Enterprise Investment Schemes and Venture Capital Trusts also being revamped.
Now the Seed Enterprise Investment Scheme has become one of the most revered government-backed schemes ever created.
Income Tax relief is available to individuals who subscribe for qualifying shares in a company which meets the SEIS requirements, and who have UK tax liability against which to set the relief. Investors don’t need to be UK resident.
There are 2 Capital Gains Tax reliefs within the SEIS:
Capital Gains Tax is usually paid after you dispose of an asset. The tax is normally paid for the tax year that the asset is disposed of. Through Re-investment relief, you are able to treat 50% of a gain that arises in tax year 2014 to 2015 as exempt from capital gains share providing you acquire SEIS shares.
Reinvestment relief can be claimed as well as SEIS Income Tax relief on an acquisition of shares. If however, you do not SEIS Income Tax relief, then that will also mean that you cannot get reinvestment relief. To qualify and receive reinvestment relief ou must invest in SEIS shares an amount at least equal to the chargeable gain.