SEIS Income Tax Relief

Popeye84

Hello all,

I have a question about SEIS income tax relief.

I have made an investment into a start up business and received a SEIS3 certificate in order to claim tax relief.

I earned £125k PAYE last financial year so I do not need to do a tax return but wondered how I go about claiming the tax relief for the above if I do not do a tax return. Is it possible?

Thanks in advance for your help.

TheSpectator

Been a while since I seen an EIS certificate but isn't there a section to send to HMRC to claim relief. Your tax code can be adjusted to give any relief due.

mybestattempt

It seems you need to complete a self assessment return, this should help:

https://www.gov.uk/government/publications/seed-enterprise-investment-scheme-income-tax-and-capital-gains-tax-reliefs-hs393-self-assessment-helpsheet/hs393-seed-enterprise-investment-scheme-income-tax-and-capital-gains-tax-reliefs-2024#income-tax-relief

DRS1

I am not sure how up to date this is but you may want to scroll down to the Alternative Ways to claim tax relief bit of this
How to claim SEIS tax reliefs – illustrated guide

Popeye84

Thanks all for the help. I have completed the form that comes with the certificate and will post to HMRC and see what happens.

mybestattempt

My apologies, I misunderstood and thought you wanted to claim tax relief for 2023/24 because of your reference to the previous financial year.

If you want to claim relief for shares issued in 2024/25 via your PAYE tax code for 2024/25 completion of the form which was with the certificate will/should achieve that. 


https://www.gov.uk/guidance/venture-capital-schemes-tax-relief-for-investors#how-to-claim-relief