The Small Company Enterprise Centre (SCEC) operates an advance assurance scheme for EIS tax relief. Advance Assurance is a form of approval from HMRC that your company meets EIS scheme requirements.
For a raise to be listed as offering EIS tax relief we would like to see either your Advance Assurance or an EIS2 document that has been issued within the last 12 months.
Approval for Advance Assurance can take anywhere from a few weeks to a few months
If you haven’t applied yet, you can still launch on Crowdcube with your status set to ‘pending’, although we recommend applying as early as possible to avoid any potential delays with the close of your raise. We would then need to ensure you have received advance assurance before we proceed with the close of your raise and sending of your cooling off email to investors.
The availability of any tax relief, including EIS, depends on the circumstances of the company and may be subject to change in the future. If you are in any doubt about the availability of any tax reliefs you should obtain independent tax advice before proceeding.