HMRC update on new digital services for venture capital schemes

Released 8 August 2017

HMRC have confirmed that work to digitise the submission and claims processes for the venture capital schemes, including the Enterprise Investment Scheme (EIS), Seed Enterprise Investment Scheme (SEIS) and Social Investment Tax Relief (SITR) is well underway.

The new digital service ‘Apply to use the Venture Capital Schemes’, is now available in private beta (by invitation only) for unrepresented companies seeking to obtain an advance assurance for a proposed investment under the EIS, SEIS or from a Venture Capital Trust (VCT).

HMRC are also currently designing the process for companies to submit a compliance statement - forms EIS1 and SEIS1 - online to be available later this year and this will be followed by functionality for agents to submit applications on behalf of clients.

HMRC’s user researchers are continuing to work with agents to understand their needs and agents with clients who use the venture capital schemes who are interested in taking part in HMRC’s research should email venturecapitalschemes.policy@hmrc.gsi.gov.uk.

For more information, see Agent Update 61.

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