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In Fashion on the Block Ltd v HMRC [2021] TC08248, the First Tier Tribunal (FTT) adjudged that completing the wrong form was not an acceptable reason for HMRC's refusal to allow the issue of SEIS qualifying shares.

The FTT allowed the appeal finding:

Useful guides on this topic

SEIS & EIS: Share issue checklist
A Seed Enterprise Investment Scheme (SEIS) and Enterprise Investment Scheme (EIS) share issue checklist for the issue and allotment of shares.

SEIS: Seed Enterprise Investment Scheme (subscribers)
When can SEIS relief be claimed?  What are the conditions for SEIS relief?  What are the benefits of SEIS relief?

SEIS: Seed Enterprise Investment Scheme
This is a freeview 'At a glance' guide to the Seed Enterprise Investment Scheme (SEIS).

EIS: Enterprise Investment Scheme (Subscriber)
When can EIS relief be claimed?  What are the conditions for EIS relief?  What are the benefits of EIS relief?

EIS or SEIS: Advanced assurance from HMRC
This is a freeview 'At a glance' guide to Advance Assurance for EIS and SEIS. 

SEIS case: File the correct forms!
In X-Wind Power Limited v HMRC [2017] UKUT 0290, the Upper Tribunal (UT) considered whether relief under the SEIS was blocked because the company filed an EIS (rather than SEIS) compliance statement in error.

External links

Fashion on the block Ltd v HMRC [2021] TC08248

 


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