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SEIS Tax Relief Options

Split a £100k SEIS investment over two tax years

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If a client subscribes for £100k of shares under the SEIS scheme in 2019-20 is it possible to relieve £50k by carrying back to 18-19 and utilise the remaining £50k in 19-20?

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By chicken farmer
17th Jan 2020 10:41

Have you read the legislation?

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By tacone
17th Jan 2020 15:34

I have read the legislation, which suggests that you can, but if you follow HMRC's examples of how to claim, it suggests that you can't

https://www.gov.uk/hmrc-internal-manuals/venture-capital-schemes-manual/...

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By tacone
17th Jan 2020 15:34

I have read the legislation, which suggests that you can, but if you follow HMRC's examples of how to claim, it suggests that you can't

https://www.gov.uk/hmrc-internal-manuals/venture-capital-schemes-manual/...

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Replying to tacone:
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By Joe Alderson
17th Jan 2020 16:16

Legislation > HMRC's guidance.

Look at ITA 2007 s.257 (I think).

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Replying to tacone:
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By chicken farmer
18th Jan 2020 10:26

What part of the guidance in the manual leads you to believe you cannot carry back £50K to the previous year? Please explain.

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By tacone
22nd Jan 2020 11:17

Thanks for your replies, I have misread the examples in HMRC guidance and am now happy that it can be split and part carried back. Thanks for your help.

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