Explore the Enterprise Investment Tax Relief Scheme

Bringing the Enterprise Investment Tax Relief Scheme (EIS) to life
It was great to hear the journey of a startup who has raised investment and used the scheme to attract angel investors.
Joanne Cole of BrokerIQ chatted with Gary Davidson at the EISA Regional Belfast event on her product development and commercialisation phases supported by investment.

The process of getting EIS isn't straight forward - here is a quick run through of what the process is and some simple steps, hints and tips.

Step by Step
- Prepare documents and information needed for compliance process
- Use the Seedlegals portal to start inputting these documents and information
- Get these reviewed to see if the company is compliant with support of SeedLegals
- Then either you can take that info and populate the HMRC website yourself or Seedlegals can help
https://lnkd.in/e3hQvJM9

In this instance I did it myself to test the timeframe - the information was submitted on 6th August and on 23rd September 2024 we received the authority and confirmation from HMRC that we can issue the EIS certificate to investors

The investors will then add this EIS certificate to their tax return and they get their tax reliefI probably started the process of collecting documents from 1st July so a full 3 month processStartups if your investors want EIS relief in this tax year before 31st January for self assessment tax returns - you need to sort out your EIS compliance and certificates asap

For further information on the EIS process check out other blogs on Linkedin via links below