Confused about tax relief on seedrs

in Cutting tax
4 replies 143 views
SncjwSncjw Forumite
3.3K Posts
Ninth Anniversary 1,000 Posts Name Dropper
Forumite
Hi 

I got a few shares with various companies via seedrs and they send eis tax relief certificates. I have read the information on seedrs and still confused by it.

Will it affect my tax code and also when it comes to selling my shares via the secondary market will it affect that too.

Thank you 
Mortgage free wannabe 

Actual mortgage stating amount £75,150

Overpayment start date 1/3/23.

Starting balance £66,565.45

Current balance -£65,553.80

Replies

  • Dazed_and_C0nfusedDazed_and_C0nfused Forumite
    9.7K Posts
    1,000 Posts Third Anniversary Name Dropper
    Forumite
    It doesn't have to impact your tax code but one of the selling points of this type of set up is the tax advantages.

    Have you never claimed EIS income tax relief?
  • SncjwSncjw Forumite
    3.3K Posts
    Ninth Anniversary 1,000 Posts Name Dropper
    Forumite
    It doesn't have to impact your tax code but one of the selling points of this type of set up is the tax advantages.

    Have you never claimed EIS income tax relief?
    No I haven't as I am confused about it..
    Mortgage free wannabe 

    Actual mortgage stating amount £75,150

    Overpayment start date 1/3/23.

    Starting balance £66,565.45

    Current balance -£65,553.80

  • redpeteredpete Forumite
    4.7K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Forumite
    Sncjw said:
    Hi 

    I got a few shares with various companies via seedrs and they send eis tax relief certificates. I have read the information on seedrs and still confused by it.

    Will it affect my tax code and also when it comes to selling my shares via the secondary market will it affect that too.

    Thank you 
    You need to either include the EIS investment amounts on a Self Assessment return or inform HMRC specifically about the investments.  This would result in you gaining tax relief of 30% of the amount invested and you will owe less tax.  For me I submitted a SA return and I expect to receive a refund into my bank account of the overpaid tax.  I don't expect HMRC to adjust my tax code.

    If you sell the shares within three years, you lose tax relief.
    loose does not rhyme with choose but lose does and is the word you meant to write.
Sign In or Register to comment.
Latest MSE News and Guides

Did you know there's an MSE app?

It's free & available on iOS & Android

MSE App

Regifting: good idea or not?

Add your two cents to the discussion

MSE Forum

Energy Price Guarantee calculator

How much you'll likely pay from April

MSE Tools