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HMRC internal manual

Venture Capital Schemes Manual

SEIS: company and investor procedures: investor claims: method of

An investor can make a claim on his or her Self Assessment tax return for the tax year in which the shares were issued. See SAM121405.

A claim does not become final until the tax return on which it is made ceases to be capable of amendment. Where for any reason relief which is claimed would, if it had been obtained, have had to be withdrawn, the individual ceases to be eligible for relief and the tax return needs to be amended accordingly.

When a claim is made on a SA tax return the required details in respect of each holding of shares should be copied from the form SEIS3 into the space reserved at the end of the form for further information.

If the shares were issued in a year for which it is too late to make or amend a Self Assessment, or if the claim is for capital gains re-investment relief, the investor must also complete the claim part of the claim form and send it to his or her tax office.

Investors who wish to obtain relief for an investment for the current year without waiting for the year to end can effectively do so by requesting a change to their code number (using the claim section of form SEIS3) or by claiming a reduction in a payment on account.

As regards the procedure where the investor wants to treat some of the shares as issued in the year before the year in which they were issued see VCM35170.