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HMRC internal manual

Venture Capital Schemes Manual

From
HM Revenue & Customs
Updated
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Seed Enterprise Investment Scheme (SEIS): re-investment relief: time limit for claim

TCGA92/SCH5BB/PARA3

The time limit for claiming SEIS re-investment relief is five years from 31 January following the end of the tax year in which the shares were issued (or treated as issued in accordance with ITA07/S257AB(5)). Thus a claim for 2012-13 must be made by 31 January 2019 and for 2013-14 by 31 January 2020.

Though it is a requirement that the investor obtains SEIS relief, a claim to SEIS re-investment relief may be made before effect is given to the claim for SEIS relief on which the SEIS re investment relief claim depends. Both claims may thus be made at the same time.

Note that a claim to re-investment relief reduces the amount of a chargeable gain accruing in 2012-13 or in 2013-14. Any repayment or discharge of tax relates to the year in which the gain accrues, not the year in which the claim is made.