Personal Tax- SA108 gains SEIS,SEED Enterprise Scheme(EIS), must not exceed £50,000, £100,000, £200,000 etc
Article ID
personal-tax-sa108-gains-seed-enterprise-must-not-exceed-50000-100000-200000
Article Name
Personal Tax- SA108 gains SEIS,SEED Enterprise Scheme(EIS), must not exceed £50,000, £100,000, £200,000 etc
Created Date
12th January 2024
Problem
IRIS Personal Tax- SA108 gains SEIS, SEED Enterprise, must not exceed £50,000 (Box 40, 3001 8426)
Resolution
The rules below on this KB is for the 2022 HMRC (50K limit): The relief limit may change per YEAR eg 100K, 200K etc.
The SEIS Relief value for the 2022 year is £50,000, which is the limit set by HMRC for Asset Disposals. (if its a Deferral then read the four options below)
a. Check all your Share/Other capital gains and look for a relief with a Type 20 SEED Disposal. This value cannot exceed £50,000.
b. Check Capital Assets, Edit, Losses and other Info, if a entry is made under ‘Additional Gains invested under SEIS exemption’ which populates the Unlisted shares CGT40 SEIS box and overrides an existing relief (if any). This value cannot exceed £50,000 as it counts as a Type 20 SEED Disposal Relief. Remove this entry and add it as relevant Relief type against the Share/OCG.
We can advise four options;
1. Change it from SEED Disposal relief type 20 into a SEED Deferral relief type 19 (which will accept a HIGHER entry)
2. Review the other relief types/options on the list instead of Type 20
3. Reduce/remove the value.
4. If your still unsure then you need to contact a tax advisor or HMRC support for advise.
You may also get a error 3001 8426 – then check the steps above:
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