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Find the name of at least one investorĪll Advance Assurance applications have to include the name of at least 1 investor and an intention to invest at 30% or more of the total SEIS/EIS Advance Assurance you’re applying for. If you already have one great, just submit it like it is! If you need to create one, then don’t worry about going into detail, you just need to summarise the company’s business activities, financials, and plan for future growth. In January 2018 HMRC changed the rules on SEIS/EIS Advance Assurance applications, and you now need to to include a 3-year business plan and financial forecast at the same level of detail that you would ordinarily provide to investors (think investor pitch deck). Create your business plan and financial forecast This process can take about a week so it’s good to find this number in advance of starting the Advance Assurance application. If you cannot find it, you will need to request it online. You should automatically get sent your company’s UTR number when you register with Companies House. Make sure you have your company’s Unique Taxpayer Reference (UTR) number There is however no need to worry about it unless you need these extra EIS benefits now, you can always apply for KIC status later when you need it! 3. You will qualify with up to 500 full-time employees (instead of 250 employees).You will qualify for EIS within 10 years from the start of trade (instead of 7 years).
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Most companies/products qualify for SEIS and EIS funding, but there are a number of activities excluded from the schemes entirely.
#Eis applications how to
How to apply for SEIS/EIS Advance Assurance 1.
#Eis applications update
We update this post regularly so you know it’s always up-to-date with the latest SEIS/EIS application rules from HMRC.ĭo your SEIS/EIS Advance Assurance application on SeedLegals and our team will ensure you have everything you need for a speedy acceptance.
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So we put together this handy step by step guide on how to apply. We know it can be hard to navigate what’s needed for a successful application and any mistakes mean you have to reapply which can set your funding round back weeks or months. At SeedLegals we’ve helped hundreds of UK startups secure SEIS/EIS Advance Assurance from HMRC.