Personal Tax- Enterprise Business Investment RELIEF claim in year or carry back to previous year (EIS/SEED)

personal-tax-business-investment-eis-relief-carry-back-to-previous-year-eis-seed

Personal Tax- Enterprise Business Investment RELIEF claim in year or carry back to previous year (EIS/SEED)

8th February 2023

Personal Tax- Business Investment Relief carry back to previous year (EIS/SEED)

This is a RELIEF claim only

Go to Reliefs | business investments | EIS or SEED enterprise investment schemes – fill in details and make sure amount for relief (and carryback box is filled if needed) and that the “for year end 5th April:” has the tax year you are claiming it (eg 2025 if its the tax year you want to claim it under). NOTE it requires DATES and a AMOUNT PAID entry to be made which then allows for the AMOUNT OF RELIEF to be populated or you cannot claim any relief.

If you need to carry back the relief: If you have a Business Investment EIS relief in 2022 and need to claim this relief back in 2021

1.Load 2022 first
Reliefs | business investments | Eis or Seed enterprise investment schemes – fill in details and make sure amount for carryback box is filled and the amount of relief (both boxes) , and that the “for year end 5th April:” has the tax year you are carrying back to (eg 2021). The amount for relief must be equal or greater than amount to carryback (thus- the carry back value cannot exceed the relief as well).

2. Then In 2021
Now change to the previous year, enter in the same information but leave the carryback amount field blank, the amount for relief (the amount carried back from 2021) field will be what shows on the tax comp. “for year end 5th April:” should have the tax year you are carrying to

If none of these are relevant to your EIS/SEED Relief claim – We have recommended users to declare this under Reliefs – Misc-additional information SA100. So that HMRC can manually adjust the tax calculation if its required.