Most rejected SEIS advance assurance applications fail on preparation rather than on the technical conditions. This checklist follows the actual sequence: what must be true before you can apply, the qualifying tests, the excluded-activity screen, the investor schedule, the document pack, submission, and the compliance step after the round that actually delivers the relief.
Tick items as you go — progress is tracked in your browser only, and nothing is sent anywhere. For the reasoning behind each requirement, read SEIS advance assurance or the step-by-step application walkthrough.
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Preconditions — none of the rest matters until these are true
Company incorporated at Companies House
Before applying
Advance assurance is not a registration service
Unique Taxpayer Reference (UTR) received from HMRC
Before applying
Arrives by post, usually 1–2 weeks after incorporation
Decided whether applying for SEIS, EIS or both
Before applying
One application can cover both schemes
Named prospective investors identified
Before applying
HMRC rejects speculative applications
Target raise agreed and realistic
Before applying
The investor schedule must credibly cover it
2. SEIS qualifying conditions
Confirm each before writing anything
Trading for under 3 years
Check
Runs from commencement of trade
Gross assets no more than £350,000 before the share issue
Check
Immediately before, not after
Fewer than 25 full-time equivalent employees
Check
Part-timers pro rata; directors count
SEIS lifetime limit of £250,000 not exceeded
Check
Includes any previous SEIS raise
UK permanent establishment
Check
Required throughout
New fully paid ordinary shares, subscribed in cash
Check
Not shares bought from an existing shareholder
No previous EIS or VCT investment before the SEIS shares
Check
Sequencing matters
Trade is not an excluded activity
Check
See the screen below
Risk-to-capital condition can be evidenced
Check
Growth intent plus genuine risk of loss
3. Excluded activity screen
Flag any that describe a meaningful part of your trade
Dealing in land, commodities, futures, shares or securities
Screen
Excluded
Banking, insurance, money-lending, hire purchase, financial services
Screen
Excluded
Legal or accountancy services
Screen
Excluded
Property development
Screen
Excluded
Farming, market gardening, forestry, timber production
Screen
Excluded
Operating or managing hotels, guest houses or nursing homes
Screen
Excluded
Generating or exporting electricity, heat, gas or fuel
Screen
Excluded
Anything flagged? Address it directly in the application
If flagged
Explain why the substance differs
4. Investor schedule
The document HMRC uses to judge whether you are seriously raising
Full name of each prospective investor recorded
Before submitting
Required
Address of each prospective investor recorded
Before submitting
Required
Intended investment amount per investor recorded
Before submitting
Required
Total credibly covers the stated target raise
Before submitting
A token amount against a large target fails
Fund manager, promoter or platform involvement disclosed
Before submitting
Non-disclosure invalidates the assurance
Evidence of intermediary engagement attached
If applicable
Emails or letters showing it is progressing
5. Document pack
HMRC assures only on what you supply
Business plan
Before submitting
Commercial plan showing growth intent, not a pitch deck
Financial forecasts
Before submitting
How the money will be spent and over what period
Latest statutory accounts
If any filed
Only if the company has filed
Memorandum and articles of association
Before submitting
Current version plus proposed amendments
Share details: class, number, price, rights attaching
Before submitting
New ordinary shares
Group structure and details of any subsidiaries
Before submitting
Who controls whom
Previous share issues and other state aid recorded
Before submitting
Affects the limits
Trade description written for HMRC, not for investors
Before submitting
Describe the activity, not the vision
Areas of doubt flagged openly
Before submitting
Resolves faster than being found
Signed letter of authorisation
If an agent applies
A fund manager cannot apply on your behalf
6. Submission and follow-up
Timing is the part founders underestimate
Applying at least 8 weeks before target close
Plan
Allows one round of HMRC questions
Application submitted to the Venture Capital Reliefs team
Submit
Via HMRC’s online advance assurance service
Author of the application available for questions
Weeks 1–6
Partial answers generate a second round
HMRC follow-up questions answered in full
On receipt
Speed here decides total elapsed time
Assurance received and added to the data room
On receipt
Share with investors
Assurance described accurately to investors
Ongoing
Not binding; not a guarantee of individual relief
7. After the round closes
Where the relief is actually delivered
Qualifying trigger met: 4 months trading or 70% of funds spent
Before SEIS1
You cannot file before this
SEIS1 compliance statement filed
Within 2 years of end of tax year of issue
Miss it and investors lose relief
SEIS2 authorisation received from HMRC
After SEIS1
Authorises certificate issue
SEIS3 certificates issued to each investor
After SEIS2
Without one an investor cannot claim
SH01 filed at Companies House
Within 1 month of allotment
Share allotment return
Cap table updated
After allotment
Keep it investor-ready
SEIS1 deadline diarised on the day shares are issued
At issue
The most expensive deadline to miss
The item founders miss
Diarise the SEIS1 deadline on the day shares are issued. It must be filed within two years of the end of the tax year of issue, and missing it can permanently cost your investors their income tax relief — the cost lands on them, not on the company.
Need this done properly?
AccTek prepares and submits SEIS advance assurance applications on a two-working-day turnaround from receiving complete information, and handles the SEIS1 filing and SEIS3 certificates after the round. The decision timetable belongs to HMRC — typically four to six weeks — so apply at least eight weeks before your target close. See how long advance assurance takes for the full timeline.
General information for UK founders based on SEIS rules for the 2026/27 tax year and HMRC’s published guidance, current at the date of writing. Advance assurance is discretionary and non-statutory, and tax reliefs depend on individual circumstances. This checklist is not tax advice — speak to an accountant about your specific position. Prepared by Godwin Pinto ACA (ICAI), member of ICPA.
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AccTek is a member firm of the Institute of Certified Practising Accountants (ICPA). Our accountants have a wide range of qualifications and accreditations from trusted professional bodies such as the AAT, ICPA, and ACCA.
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