SEIS – SEED ENTERPRISE INVESTMENT SCHEME
The Seed Enterprise Investment Scheme is designed to help small, early stage companies to raise equity finance by offering a range of tax reliefs to individual investors who subscribe for new shares in those companies. These are the current tax reliefs available -:
50% INCOME TAX RELIEF
Individual income tax relief of 50% of the amount invested (up to a maximum of £100,000 per tax year), with the potential to carry-back all or part of the cost of the shares acquired to the preceding tax year with effect from 2013/14. The 50% relief applies regardless of the individual’s tax rate. The relief is offset against an individual’s tax liability.
Exemption from CGT (Capital Gains Tax) on any profit from the sale of a SEIS investment if shares are held for at least 3 years.
50% Exemption from capital gains tax on profits of sale from other capital assets during the tax year 2012/2013.
If SEIS shares are disposed of at any time at a loss (after taking into account income tax relief), such loss can be set against the investor’s capital gains, or his income in the year of disposal or the previous year.
The combination of income tax relief at the 50% rate with the potential to exempt capital gains reinvested in SEIS companies , thus saving up to a further 14% in tax, together with loss relief up to a further 22.5% makes the SEIS one of the most significant and attractive tax relief schemes in the UK.
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