Income Tax Act 2007 section 257GE

Information to be provided by the investor

Section 257GE requires an investor who has obtained SEIS income tax relief to notify HMRC within 60 days if certain events occur that affect that relief.

• An investor who has received SEIS relief must notify HMRC within 60 days of becoming aware of any event that triggers withdrawal or reduction of that relief
• Notifiable events include the investor ceasing to qualify, a linked loan being identified, disposal of the shares, or the granting of call or put options over them
• Receipt of value from the issuing company by the investor is also a notifiable event, even where replacement value has been or is expected to be provided
• Where the investor knows of any replacement value received or expected in connection with a qualifying receipt of value, details of that replacement value must also be included in the notice