E3.862 Obligation To Notify HMRC Of Disqualifying Events, And HMRC Powers

Home / Simons-Taxes /Personal and employment tax /Part E3 Reliefs for investors /Division E3.8 Seed enterprise investment scheme /Procedure for the withdrawal or reduction of SEIS income tax relief / E3.862 Obligation to notify HMRC of disqualifying events, and HMRC powers

Commentary

Personal and employment tax

The investor is required to notify HMRC if relief should be withdrawn due to an event listed below:

Events requiring notification by the investor¹	Commentary can be found at:
The investor ceased to be a qualifying investor.	E3.815
The investor received a loan linked to the issue of the shares.	E3.815
The investor disposed prematurely of his shares or has a call or put option on them.	E3.852
The investor received value from the company. If there has been a payment of replacement value then the investor has to notify HMRC of the amount of the replacement value, if known².	E3.853

The investor must, within 60 days of coming to know of the event, give notice to HMRC containing particulars of the event³.

The issuing company (or connected person) is required to notify HMRC if relief should be withdrawn due to an event listed below:

Events requiring notification by the company⁴	Commentary can be found at:
The

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I4.265 Lifetime transfers reported late

C1.106 Allowable capital losses

B3.325 General exclusions—first-year qualifying expenditure

B5.301 Intellectual property—overview

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