Answer
Can I apply for SEIS and EIS advance assurance together?
Yes. One advance assurance application can cover both SEIS and EIS, and for most seed rounds that is the sensible way to do it: the first £250,000 under SEIS, the balance under EIS. The critical rule is sequencing, because the SEIS shares must be issued before the EIS shares.
How a combined raise usually works
| Step | Scheme | Note |
|---|---|---|
| 1. One advance assurance application | SEIS and EIS | Covers both proposed share issues |
| 2. Issue the SEIS shares | SEIS | Up to £250,000 lifetime limit, must come first |
| 3. Issue the EIS shares | EIS | Balance of the round, separate share issue |
| 4. File SEIS1, then EIS1 | Both | After 4 months trading or 70% of the money spent |
| 5. Issue SEIS3 and EIS3 certificates | Both | £50 per investor with Mida OS |
Sequencing rules to respect
- SEIS shares issued strictly before any EIS shares
- Separate share issues, separate dates, separate compliance statements
- SEIS money counts towards the company's overall risk finance limit
- The trading-age tests differ: under 3 years for SEIS, first commercial sale within 7 years for EIS
- Investor annual limits apply per scheme
- Do not close both tranches on the same resolution without advice
What we do
We file one application covering both schemes for a fixed £449, and we set out the order the share issues need to happen in so nothing is invalidated on the way. When the round closes we handle both compliance statements and every investor certificate.
Primary sources
What Mida OS actually does
We are a boutique SEIS and EIS consultancy in the UK. We check your eligibility, draft and file the advance assurance application with HMRC, and answer HMRC's questions until the letter arrives. Fixed fee of £449 for SEIS, EIS or both, and every application we have filed has been approved. After your round closes we file the SEIS1 or EIS1 compliance statement and issue SEIS3 and EIS3 certificates at £50 per investor.