The Seed Enterprise Investment Scheme was developed to aid young companies to raise equity finance through tax reliefs for individual investors who buy new shares in such establishments. It goes hand in hand with the Enterprise Investment Scheme that offers tax relief to investors in high risk small companies. Tax relief for such companies is offered at a higher rate.
SEIS is applicable to shares issued on or after 6th of April 2012 and mirror the rules implemented to EIS.
If a company has a UK tax liability against which the relief can be set income tax relief will be available to people investing in shares that meet the SEIS requirements. In this case investors do not need to be UK residents. Such shares should be retained for 3 years for the relief to be implemented. In case if they are disposed within the initial 3 years the relief will be either reduced or withdrawn entirely.
Relief is made available at 50% of the price of the shares on an annual investment that does not exceed £100,000. A claim to relief can be filed up to 5 years later. A carry-back option is also available for the acquired shares to be treated as shares that have been acquired in previous years. The relief cannot be carried before 2012-2013 as there is no SEIS rate prior to that tax year.
Any profit is free from capital gains tax if the income tax relief has been received on the cost of shares and the shares have been sold following being held for a minimum of 3 years. In case if the claims on income tax have been made any other sale of shares with not be subject to exemption from CGT
An establishment can pursue a share issue under SEIS with others under EIS or Venture Capital Trust investments. At least 70% of the monies raise through SEIS need to be spent before new ones are issued.
If a company has already had investment from VCT or issued shares on EIS compliance statement, then no shares under the SEIS can be issued by the company.
On 16 March 2017, the Home Office has released a Statement of Changes to the Immigration Rules. These new changes will affect those applications that need to have a Certificate of Sponsorship and these changes will be in effect on 06 April 2017.
What you should know about European visas after Article 50. The UK Prime Minister Theresa May has so far not changed her mind in regards to the plans of triggering Article 50 before the end of March 2017.
For international students who wish to remain in the UK longer or would like to eventually settle. There are options to choose from, granted you are willing to stay.
As of 16 January 2017 the Prime Minister of the United Kingdom, Theresa May, has given hints that the UK is moving towards a hard Brexit. Although Theresa May insists EU citizens are ‘welcome’ to be in the UK, she cannot guarantee the right of EU citizens in the UK at an early stage. These are troubling news for Europeans and British Citizens currently living and working in the UK.
As of 24 March 2016, the UK government has announced new changes to Tier 2 type visas. This is the migration route for those who have a confirmed job offer to undertake skilled employment in the UK.
The UK government has recently introduced a significant amount of changes to immigration rules and procedures that can influence nationals of European Economic Area. These changes will come into force on the 1st February 2017, however, some changes are happening now.
A new Statement of Changes to the Immigration Rules HC667 has been laid down on the 3rd November 2016. These changes come in a whopping 90 pages however, most changes are in the language itself rather than effect. The significant changes include the increase of the minimum salary requirement of Tier 2 skilled workers; the introduction of a fresh English language requirement for family immigration regarding to Tier 4 visa and the removal of the previous 28 days’ grace period for making out of time immigration applications.