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

📘 Overview

If your company is planning to raise investment under SEIS or EIS, you can apply for advance assurance online through HMRC’s portal. Advance assurance is a way to confirm that your company and proposed investment are likely to qualify before approaching investors. This guide walks you through the information you’ll need, and the steps to complete the online form, so you can prepare confidently.

If you’re unsure about eligibility or your structure is complex (for example, you’ve acquired a trading business or have a group structure), our expert tax advisors can handle the process for you.

✅ Before You Begin: Information to Gather

Make sure you have the following ready before starting your online application:

• The amount of investment you plan to raise
• Your business plan and financial forecasts
• The latest accounts, if available
• Details of how the funds will be used, supported by forecasts or projections
• Information about at least one lead investor, including their name and address
• A summary of all trading activities
• An up-to-date memorandum and articles of association, and details of any upcoming changes
• A copy of the register of members (at the date of application)
• The latest draft of your investor presentation (e.g. pitch deck)
• Details of any agreements between the company and shareholders
• Any additional documentation demonstrating eligibility for SEIS or EIS

💡 Tip: Having these items saved as PDFs before logging in will make the submission process smoother.

Completing the Online Form

You can apply for advance assurance directly via HMRC’s online service using your Government Gateway account.

🔗 Apply for SEIS or EIS advance assurance on GOV.UK

Step 1: Start Your Form

• Log in to HMRC’s system using your Government Gateway credentials.
• Select “Start a new form”.
• Make a note of your temporary access key, you’ll need this if you pause and want to return later.

📊 Key Sections of the Form

Below are the main sections you’ll complete, with guidance for each question.

1. Company Details

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

2. Scheme Type

Select whether you’re applying for SEIS, EIS, or both.

If you’re a Knowledge-Intensive Company (KIC), HMRC will ask a separate set of questions — seek advice if you’re unsure whether you qualify.

3. Risk to Capital Condition

You must demonstrate that the company:

• Has long-term objectives to grow and develop its trade (refer to your uploaded business plan)
• Exposes investors to a genuine risk of losing their capital

4. Business Activity

• Choose between “trade” or “preparation for trade.”
• Provide the date trading began, or is expected to begin.
• Describe your trade or R&D activity in detail.
• Confirm that your trade does not include excluded activities.

5. Previous Investments or State Aid

Provide details of any prior investment or State aid:

• Previous SEIS, EIS, VCT or SITR investments
• Any de minimis State aid or risk finance previously received

6. Capital and Purpose

• State the total capital you intend to raise.
• Explain how you’ll use the investment (growth and development, not simply working capital for EIS).
• Ensure your figures align with your business plan and forecasts.

7. Share Details

• Indicate the class of shares to be issued.
• Confirm whether there are any preferential rights (e.g. dividend or liquidity preferences).💡 Important: Preferential rights can disqualify you – seek advice if your shares include any preferences.

8. Company History and Structure

• Confirm whether the company is within its initial investing period (7 years from first commercial sale, or 10 years for KICs).
• State whether the company has made commercial sales, and if so, provide the date.
• Declare any subsidiaries (note: this can be complex – get advice if relevant).

9. Assets and Employees

• Give your gross assets before and after the share issue.
• State the number of full-time equivalent (FTE) employees expected on the share issue date.
• Include your registered business address.

✅ Uploading Supporting Information

You’ll need to upload the following documents before submitting:

• Business plan (including financial forecasts)
• Subscription or side agreements with investors
• Latest company accounts (or management accounts/detailed activity summary if not yet available)
• Shareholder register at the date of submission
• Memorandum and Articles of Association, with any planned amendments
• Investor materials (e.g. pitch deck, information memorandum, or prospectus)

💡 Tip: Combine documents into one clear PDF if possible, and label each file with its content (e.g. “BusinessPlan_CompanyName_2025.pdf”).

💡 Key/Practical Points

• Advance assurance is not mandatory, but investors often expect it before committing funds.
• Keep consistency between your application, business plan and investor materials – discrepancies may cause delays.
• Avoid preferential share rights, as these continue to pose a significant risk of disqualification.
• Be aware of threshold and limit changes that apply in SEIS and EIS (see below).
• You can expect HMRC to review your submission and respond within ~4–8 weeks, depending on complexity.

🧾 Updated Thresholds & Important Changes

Since some earlier articles this has not been updated, here are important threshold changes you should be aware of.

• Under SEIS: The lifetime amount your company may raise under SEIS is now up to £250,000, following the change from 6 April 2023.
• Under EIS: For non-KIC companies, the gross assets limit remains at around £15 million pre-issue, with a lifetime maximum raise of about £12 million, though for KIC companies this is higher.
• The definition of “first commercial sale” and initial investing periods remain as 7 years (10 years for KICs) but be aware that guidance and thresholds evolve, so check current HMRC internal manuals before applying.

Summary

Applying for SEIS/EIS advance assurance online is straightforward when you’re well prepared. Gather your documents, ensure your forecasts align with your funding request, and explain clearly how the investment supports growth.

If you’re unsure at any stage, or if your company has subsidiaries, restructuring plans, or complex funding arrangements, it’s best to let a professional tax advisor handle your submission to avoid costly rejections.