After you have closed your funding round you’ll want to move onto submitting your S/EIS Compliance Statement to HMRC so that your investors can claim their tax relief.
It’s always best to submit this as quickly as possible to show your investors you’re on top of everything and so that you can finish off the funding round admin and focus on what you do best.
However, there is strict criteria that the company will have to meet before HMRC will accept the Compliance Statement and allow you to issue the S/EIS3 certificates to your investors.
For SEIS: The Company must have been trading for 4 months OR spent 70% of the SEIS Investment.
For EIS: The Company must have been trading for at least 4 months
Note: If the below warning appears after you have created the Compliance Statement this means that for EIS the trading start date you have input is less than four months ago. And for SEIS the trading start date is less than 4 months ago and you have not shown within the expenditures section that you have spent 70% of the Investment.