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HMRC internal manual

Venture Capital Schemes Manual

HM Revenue & Customs
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SEIS: company and investor procedures: investor claims: shares treated as acquired in preceding year

Where the investor wishes to treat some of the shares as issued in the year before the year in which they were issued (see VCM31130), it will be necessary to make two separate claims.


Mr Illingworth subscribes £50,000 for 50,000 shares which are issued to him on 30 September 2014. He receives form SEIS3 on 31 October 2014. He wants 20,000 shares to be treated as issued in the previous year.

His claim to relief on £30,000 for 2014-15 will be made after the end of the year on his tax return. In the meantime he completes the claim section of form SEIS3 to show a claim to relief on £20,000 for 2013-14, thus amending his tax return for that year. At the same time he uses the same means to obtain a coding adjustment for 2014-15.