Well, that was close but thanks to the new Chancellor Kwasi Kwarteng, SEIS and EIS are now bigger and better. The Seed Enterprise Investment Scheme (SEIS) and the Enterprise Investment Scheme (EIS) were previously set to end in 2025 under a sunset clause. However, here is a summary of the latest changes that come into effect on the 6th of April 2023 as SEIS and EIS is extended.
Changes to SEIS
- Be trading for up to 3 years (was two years)
- Have gross assets valued up to £350,000 (was £200,000)
- The total amount you can raise o SEIS is now £250,000 (was £100,000)
- The total amount an Investor can invest and claim SEIS on is now £200,000 (was £100,000)
- “The Seed Enterprise Investment Scheme and Company Share Option Plans, we will increase the limits to make them more generous.” Details to be confirmed.
Changes to EIS
Well, sadly no updates here to the Enterprise Investment Scheme (EIS) but there was a quote at least. “The government remains supportive of the Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCT) and sees the value of extending them in the future.”
How to apply
Applying for SEIS and EIS tax relief as a start-up founder is a critical part of the fundraising process. Make sure that you are up to date on all the requirements for SEIS and EIS with our full guide. It’s quick and easy to learn how to complete your own applications without having to pay a lawyer or accountant.