How much money can I raise under SEIS or EIS?
š Overview
The amount your company can raise depends on whether you are using the Seed Enterprise Investment Scheme (SEIS) or the Enterprise Investment Scheme (EIS).
š SEIS: Seed Enterprise Investment Scheme
š Company Cap
- For shares issued on or after 6 April 2023, a company can raise up to Ā£250,000 in total under SEIS.
- Shares issued on or before 5 April 2023 remain subject to the older limit of Ā£150,000.
- This cap counts all SEIS investment and any de minimis aid received in the 3 years before the SEIS investment.
š Other Key SEIS Limits
- Gross assets limit: Ā£350,000 (at date of share issue)
- Trading period / company age: Within the first 3 years of starting trading
- Investor cap (per person): Ā£200,000 per tax year
These changes were introduced (or took effect) from 6 April 2023.
š EIS: Enterprise Investment Scheme
Once a company surpasses SEIS scope (or hits the cap), EIS becomes the next stage. Key limits:
- Annual raise limit: Ā£5 million
- Lifetime (total) limit: Ā£12 million
Knowledge-intensive companies (KICs):
ā¢ Up to Ā£10 million per year
ā¢ Up to Ā£20 million lifetime
š£ Typical Funding Route
Many startups follow this route:
- Raise Ā£250,000 via SEIS (if eligible)
- Once SEIS is maxed out (or no longer applicable), switch to raising under EIS
ā ļø Note: In a combined funding round, SEIS shares must be issued before EIS shares - you canāt issue EIS first and then SEIS.
š§© Interaction with State Aid / De Minimis Aid
- SEIS is treated as de minimis state aid. Any de minimis aid received in the prior 3 years must be aggregated with SEIS amounts when checking caps.
- Be aware: some government grants or subsidies might count toward that limit, which can reduce how much you can legally raise under SEIS.