Subscriptions for shares under EIS/Seed EIS
This screen is accessed via the data input tab within the tax return and allows input of subscriptions for shares under the Enterprise Investment Scheme and Seed Enterprise Investment Scheme.
Subscriptions for shares under the Enterprise Investment Scheme
If an investment has been made in shares that were issued during the current tax year (or the following tax year if relief is being carried back) EIS relief may be available. For further details see HMRC Helpsheet 341 Enterprise Investment Scheme – Income Tax relief.
To qualify for relief, form EIS3 or EIS5 must have been received.
The computation will allow relief of 30% of the smaller of:
- The amount subscribed
- £1,000,000
- The amount that reduces the tax bill to zero for the year.
- Name of company – enter the name of the company invested in.
- Date issued – enter the date of issue of the shares.
- HMRC office which issued EIS3/EIS5 – enter then name of the HMRC office which authorised the issue of the EIS3 or EIS5 certificate.
- Unique Investment Reference – enter the reference given by HMRC to the certificate issued.
- R&D/Innovation – tick this box if the investment made involved companies undertaking Research and Development and innovation. If this applies then the maximum relief is uplifted to £2,000,000. (added from 2022)
- Amount invested – enter the amount invested. (added from 2022)
- Amount on which relief claimed – the amount relief being claimed in respect of the amount subscribed. .
Taxfiler will calculate the appropriate maximum relief possible based upon the total amount on which relief is claimed and the underlying HMRC rules.
Taxfiler will ensure that the necessary information is included in the additional information white space as required by the tax return notes.
Subscriptions for shares under the Seed Enterprise Investment Scheme
If an investment has been made in shares that were issued during the tax year then Seed Enterprise Investment Scheme relief may be available. For more information, read HMRC Helpsheet 393 Seed Enterprise Investment Scheme – Income Tax and Capital Gains Tax reliefs.
To qualify for relief, form SEIS3 must have been received.
The computation will allow relief of 50% of the smaller of:
- The amount subscribed
- £100,000
- The amount that reduces the tax bill to zero for the year.
- Name of company – enter the name of the company invested in.
- Date issued – enter the date of issue of the shares.
- HMRC office which issued SEIS3 – enter then name of the HMRC office which authorised the issue of the SEIS3 certificate.
- Unique Investment Reference – enter the reference given by HMRC to the certificate issued.
- Amount invested – the amount of the investment. (added from 2022)
- Amount on which relief claimed – the total amount of the subscription on which you are claiming relief.
If you enter an amount on which relief is claimed of more than £100,000, Taxfiler will limit the amount included on the tax return to £100,000 as required by the tax return notes.
Taxfiler will ensure that the necessary information is included in the additional information white space as required by the tax return notes.
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