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Seed Enterprise Investment Scheme: HMRC guidance

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HMRC has published an ‘overview’ of the Seed Enterprise Investment Scheme, which will provide tax reliefs for new shares issued on or after 6 April 2012 by small, ‘early stage’ companies. The reliefs will operate alongside the Enterprise Investment Scheme. They will not become law until the Finance Bill receives Royal Assent in July 2012, and HMRC pointed out that the guidance is based on its understanding of the legislation ‘as the government has indicated it intends to enact it’.

The guidance does not cover the rules in full detail. Companies and investors ‘should seek further advice from HMRC’s Small Companies Enterprise Centre or from a professional adviser, if in doubt,’ HMRC said.