niceguy37
Member of DD Central
Posts: 504
Likes: 254
|
Post by niceguy37 on Jan 1, 2016 8:08:18 GMT
Does anyone know when we can claim EIS tax refunds for the Seedr's investment campaign?
I invested in Feb 2015. Do I declare it on my tax return for 2014/15, or wait until the share conversion event?
|
|
tonyr
Member of DD Central
Posts: 477
Likes: 258
|
Post by tonyr on Jan 1, 2016 9:07:56 GMT
Does anyone know when we can claim EIS tax refunds for the Seedr's investment campaign? I invested in Feb 2015. Do I declare it on my tax return for 2014/15, or wait until the share conversion event? I'm pretty sure it's the share conversion event. It really would have been good to get some news, as there will be a slow wake up in early January I really can't see this happening before we have to submit our tax returns for last year, which means that if it happens in the rest of the tax year we have to resubmit them.
|
|
merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
|
Post by merlin on Jan 1, 2016 10:14:27 GMT
If it helps, the senior management of AC publically promised to try to achieve vesting before the end of the current tax year. This statement has been reinforced by the chairman in November stating something like the "the final pieces of the jigsaw are coming into shape" when referring to vesting.
However phrases like "pinch of salt" and "many a slip twixt cup and lip" come to mind. Perhaps when the AC team return after the Xmas/New Year break they may care to give us an update with out their fingers crossed behind their backs.
|
|
rogerbu
Member of DD Central
Posts: 398
Likes: 213
|
Post by rogerbu on Jan 1, 2016 10:17:50 GMT
You cannot claim until you have the EIS3 in your hand.
The lengthy EIS3 creation period will not start until the shares have been issued - ie the Conversion Event completing. I am not expecting the Assetz Capital EIS3's till at least near the end of 2016. Which tax years they can be applied to will depend on the mythical Conversion Event
You can claim your tax relief for the TY the shares were issued or the previous tax Year. Or split across these two tax years
I have found that the best process is to complete my Tax Return online even if I haven't yet got any or all EIS3. Completing the EIS & SEIS section with what I actually do have certs for. This results in a Tax owed statement or a refund.
As each (S)EIS3 comes in, it is a simple task to modify my online tax return. Within a few weeks I get the tax refund credited which either reduces the tax owed figure or produces a tax refund.
|
|
niceguy37
Member of DD Central
Posts: 504
Likes: 254
|
Post by niceguy37 on Jan 4, 2016 9:57:57 GMT
Thanks very much
|
|
niceguy37
Member of DD Central
Posts: 504
Likes: 254
|
Post by niceguy37 on Jan 25, 2018 11:29:14 GMT
You cannot claim until you have the EIS3 in your hand. The lengthy EIS3 creation period will not start until the shares have been issued - ie the Conversion Event completing. I am not expecting the Assetz Capital EIS3's till at least near the end of 2016. Which tax years they can be applied to will depend on the mythical Conversion Event You can claim your tax relief for the TY the shares were issued or the previous tax Year. Or split across these two tax years I have found that the best process is to complete my Tax Return online even if I haven't yet got any or all EIS3. Completing the EIS & SEIS section with what I actually do have certs for. This results in a Tax owed statement or a refund. As each (S)EIS3 comes in, it is a simple task to modify my online tax return. Within a few weeks I get the tax refund credited which either reduces the tax owed figure or produces a tax refund. So I have my Assetz Capital share certificate downloaded from Seedrs in July 2017. Is this the EIS3 I need to have in my hand or do I have to apply for something else?
|
|
tonyr
Member of DD Central
Posts: 477
Likes: 258
|
Post by tonyr on Jan 25, 2018 12:24:11 GMT
You cannot claim until you have the EIS3 in your hand. The lengthy EIS3 creation period will not start until the shares have been issued - ie the Conversion Event completing. I am not expecting the Assetz Capital EIS3's till at least near the end of 2016. Which tax years they can be applied to will depend on the mythical Conversion Event You can claim your tax relief for the TY the shares were issued or the previous tax Year. Or split across these two tax years I have found that the best process is to complete my Tax Return online even if I haven't yet got any or all EIS3. Completing the EIS & SEIS section with what I actually do have certs for. This results in a Tax owed statement or a refund. As each (S)EIS3 comes in, it is a simple task to modify my online tax return. Within a few weeks I get the tax refund credited which either reduces the tax owed figure or produces a tax refund. So I have my Assetz Capital share certificate downloaded from Seedrs in July 2017. Is this the EIS3 I need to have in my hand or do I have to apply for something else? The latter. Have a look at the image on www.kincapital.co.uk/how-to-claim-seis-and-eis-tax-relief/ - that's what you need. The page has instructions as well.
|
|
kermie
Member of DD Central
Posts: 691
Likes: 462
|
Post by kermie on Jan 25, 2018 20:29:36 GMT
niceguy37 - don't know what the hold-up is at Seedrs Towers, but we're still waiting on EIS3 forms to appear on the Seedrs site (for both the convertible and the recent second raise). Direct investors got their forms issued from AC some time ago, so it's not AC holding things up.
|
|
|
Post by mrclondon on Feb 24, 2018 19:12:07 GMT
As already noted the AC direct investors received their EIS3 certificate quickly with no fuss. If my experience is anything to go by, investors via seedrs have experienced some hassle. Tagging stuartassetzcapital for info so AC are aware there may be a wider issue. Seedrs emailed AC shareholders on 8th Feb saying digital copies of the EIS3 were now available to download. Getting hold of the paper copy needed to claim relief against the last tax year though has been a struggle. The seedrs page www.seedrs.com/tax_documents states: I emailed my request on 8th Feb, and after 8 days without a response, I sent a request for confirmation that the certificate had been dispatched. After a further 4 days without a response I tracked down the complaints procedure which is hidden in the membership agreement downloadable from www.seedrs.com/your/profile/editMy email to complaints(at) was automatically acknowledged by their systems and a support ticket number assigned to it, unlike the emails to support(at) which were ignored. Two days later I got an email saying the certificate had been dispatched, and a further 2 days later (today) it appeared through my letter box. Claiming the EIS relief against the prior tax year (assuming you still have headroom) is a no brainer as it generates an immediate tax refund for the previous year and a reduction in the current years payments on account. So not surprisingly I've already posted the claim onto HMRC. I'm left with the distinct impression that seedrs are attempting to avoid the expense of posting out EIS3 certificates, and despite my request clearly stating I needed the paper copy for a prior year claim, both the eventual email response and the covering letter sent with the EIS3 certificate came across rather grudgingly. Not impressed, however, the secret appears to be to follow up the request email with a complaint.
|
|
ding
Member of DD Central
Posts: 238
Likes: 132
|
Post by ding on Feb 26, 2018 9:29:59 GMT
Lucky you, I've yet to receive mine, and Seeders shows EIS "in progress". Thanks for documenting how to get the form out of them though
|
|
|
Post by GSV3MIaC on Feb 26, 2018 16:58:40 GMT
I think mrclondon may either have been unlucky, or may have pipe-cleaned the system, because I emailed support asking for mine, and 24 hours later I got an email back saying they had sent it. Whether/when it actually shows up ..
|
|