Step-by-Step Guide on Completing the Advance Assurance Form

📘 Overview

You can now apply for SEIS and EIS advance assurance online through HMRC’s portal.

If you already understand the SEIS and EIS schemes, you can usually complete the process yourself. However, if your situation is complex (for example, you’re acquiring a trading business or part of a group structure), or if you’re unsure about eligibility, our expert tax team can help with your application.

💡 Before You Apply

You’ll need to gather the following information and documents in advance:

• How much money you plan to raise
• Your business plan and financial forecasts
• A copy of the latest company accounts (if available)
• Details of how the investment will be spent (supported by forecasts or projections)
• Details of at least one significant investor (name and address required)
• A summary of your trading activities
• An up-to-date Memorandum and Articles of Association, including any planned amendments
• A register of members as of the date of application
• The latest draft of any investor documents (e.g. pitch deck or information memorandum)
• Details of any agreements between the company and shareholders
• Any other evidence to demonstrate that your company qualifies under the SEIS or EIS schemes

💡 Tip: Having a complete business plan, with realistic forecasts and investor details, helps HMRC assess your eligibility faster.

✅ Completing the Online Form

You’ll need to log in via your Government Gateway account to access the HMRC form.

🔗 Access the SEIS/EIS Advance Assurance Form on GOV.UK

When you start a new application, make note of your temporary access key. Without it, you won’t be able to resume your form if you exit before submission.

Step-by-Step Form Walkthrough

Below is an outline of each section and what to expect:

Company Details

• Name of company
• Corporation Tax Unique Taxpayer Reference (UTR)
• Company registration number
• Date of incorporation

Scheme Selection

• Select which venture capital scheme you’re applying for: SEIS, EIS, or both.

  You’ll also be asked whether your company qualifies as a Knowledge-Intensive Company (KIC).

  • If you select Yes, you’ll be prompted with additional KIC-specific questions.

Risk to Capital Condition

You must demonstrate that your investors’ funds will be genuinely at risk and used to grow the business.

Provide details on:

• The company’s long-term growth objectives
• Planned use of investment proceeds
• Projected turnover and employee growth (as per your business plan)
• The nature of risk to investors’ capital

🔗 HMRC guidance: The risk to capital condition

Qualifying Business Activity

You’ll need to specify:

• Whether the funds are for trade or preparation for trade
• The date trade (or preparation) began
• A description of your trade or R&D activity

💡 Ensure your activity is not an excluded trade.

🔗 See HMRC list of excluded activities

Previous Investments or State Aid

Declare whether your company has previously received:

• SEIS, EIS, VCT, or SITR investment, or
• Any de minimis State aid or risk finance

Include details of the dates, amounts, and investors where possible.

Funding Details

You’ll be asked to provide:

• The total capital to be raised under SEIS/EIS (this should reconcile to your financial forecasts)
• The purpose of issuing the shares (must be for growth and development, not working capital)
• The class of shares to be issued, and any preferential rights

💡 If there are any preferential rights (for example, priority dividends or liquidation preferences), seek advice before applying, as these can invalidate your advance assurance.

Company Age and Trading Status

HMRC will ask:

• Whether the company will still be within its initial investing period (7 years from first commercial sale, or 10 for KICs)

  Whether the company has already made a commercial sale

  • Note: test sales do not count as commercial sales.
• The date of the first commercial sale (if applicable)

Group Structure

If your company has subsidiaries, you’ll need to provide details for each.

💡 This is a complex area and can affect your eligibility. If you have subsidiaries, speak to your accountant before submitting your application.

Assets and Employees

• Expected gross assets before and after the share issue
• Estimated number of full-time equivalent (FTE) employees on the date of issue
• Registered business address

📎 Uploading Supporting Information

The following documents must be uploaded before submitting your application:

• Business plan (including forecasts)
• Copies of any subscription or shareholder agreements
• Latest accounts or management accounts (or a detailed narrative if not yet trading)
• List of current shareholders
• Memorandum and Articles of Association (including details of planned amendments)
• Latest draft of your investor presentation, pitch deck, or prospectus

💡 Ensure these files are clearly labelled and up to date, incomplete or inconsistent uploads are the most common reason for HMRC delays.

✅ Summary

• Gather your documents before starting, missing information can delay approval.
• Keep your business plan and forecasts consistent with what you enter on the form.
• Avoid preferential share rights unless you’ve taken advice.
• Remember to download and save your temporary access key.
• Upload complete, clearly labelled documents.

Once submitted, HMRC typically reviews applications within 4–6 weeks, though this can vary.