Income Tax Act 2007 section 257EB

Entitlement to claim

Section 257EB sets out the conditions an investor must meet before claiming Seed Enterprise Investment Scheme (SEIS) income tax relief, and the consequences of not having made a formal claim.

• An investor may only claim SEIS relief on shares if they have received a compliance certificate from the issuing company for those shares.
• SEIS relief cannot be taken into account for PAYE purposes unless a proper claim has been made.
• An investor cannot apply to postpone a tax payment pending appeal on the grounds of SEIS eligibility unless a formal claim for the relief has already been submitted.
• The compliance certificate acts as the essential gateway document — without it, no claim for SEIS relief can proceed.