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HMRC internal manual

Venture Capital Schemes Manual

From
HM Revenue & Customs
Updated
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EIS: income tax relief: company and investor procedures: investor claims: action after receipt

Where a claim is accepted (either without enquiry or after enquiry) this should be notified to the Small Company Enterprise Centre (SCEC) office dealing with the company. If there is an EIS3 claim form send a copy of it to the SCEC office, using form MS117 (EIS) available on LFC. If there is no EIS3 claim form, complete an EIS3 (Internal) and send this. That form is also available on LFC. Sending these forms enables the SCEC to check that the investor qualifies for the relief and that the amount and year are correct, and assists the Inspector in arranging for any reduction of relief which may be needed at a later stage.

When the claim is supported by a form EIS5 (because the investment has been made through an Approved Investment Fund) there is no need to send a copy or show this information on the form, to the SCEC.

Claims to income tax relief totalling less than £5000 need not be referred to SCEC.