Taxation of Chargeable Gains Act 1992 Schedule 5BB paragraph 3

Claims

Schedule 5BB paragraph 3 sets the time limit for claiming SEIS re-investment relief and confirms that a claim can be made before SEIS income tax relief has actually been given.

• The time limit for claiming SEIS re-investment relief is the same as the time limit for claiming SEIS income tax relief, as set out in Section 257EA of ITA 2007.
• An investor does not need to have actually received SEIS income tax relief before making a claim for SEIS re-investment relief.
• The claim for SEIS re-investment relief can therefore be submitted in advance, even though it depends on SEIS income tax relief being obtained.
• This alignment of deadlines and the ability to claim early simplifies the administrative process for investors seeking both reliefs in respect of the same qualifying expenditure.