Does anyone have experience with EIS or SEIS-qualifying investments? I know the principle , I've seen a lot of videos on YouTube but how does it work for real?

for example:
- I'm investing money on website like www.crowdcube.com
- I'm doing this now - march 2015, for ex 1000 pounds
- The website needs few weeks to prepare documents
- When I have them what happen next? HMRC Self Assessment? - And they will give me back 500 pounds (if this is SEIS)?

I'm working full time.

  • Are you asking about crowd funding or EIS - EIS and similar schemes are for experienced private investors with large amounts of spare cash? – Pepone Mar 12 '15 at 22:28
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    @Pepone, some crowdfunded things qualify for EIS or SEIS - I've just invested in one that does and I'm neither experienced nor have large amounts of spare cash. (I won't link to the specific one here because I don't want it to come across as spammy). – Vicky Mar 13 '15 at 9:01

Yes, your understanding is correct.

After you make the investment and have the paperwork, at the end of the tax year you will do your self assessment. Depending on exactly when the transaction ends up being dated, and since we're so close to the end of the tax year currently, that might end up being your 2014-2015 tax return (which you can do any time from April 6th 2015 and must be done by January 31st 2016), or your 2015-2016 tax return (which you can do any time from April 6th 2016 and must be done by January 31st 2017).

When you complete your self assessment tax return you will enter the investment you made into the relevant section, and £500 (for SEIS-qualified investments) or £300 (for EIS-qualified investments) will be deducted from your total tax owed.

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