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HMRC internal manual

Venture Capital Schemes Manual

From
HM Revenue & Customs
Updated
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SEIS: income tax relief: withdrawal or reduction of relief: procedure: withdrawing relief

ITA07/S257G

SEIS relief cannot be withdrawn via self-assessment. Instead it should be recovered by the making of a manual Special Assessment using SEES, and the charge entered onto SAFE.

Instructions on how to do this are at SAM22001 to SAM22030 following the same procedure as would apply for a withdrawal of EIS relief.

Where the shares in question were acquired from a spouse or civil partner, the assessment will be on the person they were transferred to.