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This process can take about a week so it’s good to find this number in advance of starting the Advance Assurance application. If you cannot find it, you will need to request it online. You should automatically get sent your company’s UTR number when you register with Companies House. Make sure you have your company’s Unique Taxpayer Reference (UTR) number There is however no need to worry about it unless you need these extra EIS benefits now, you can always apply for KIC status later when you need it! 3. You will qualify with up to 500 full-time employees (instead of 250 employees).You will qualify for EIS within 10 years from the start of trade (instead of 7 years).Raise up to £10 million through EIS per year (instead of £5 million) and raise a total of £20 million through EIS in the company lifetime (instead of £12 million).If you think that could be you, it’s worth being aware of the benefits which are: You qualify as a Knowledge Intensive Company (KIC) if your operation expenditure includes research, development or innovation expenses, you are developing intellectual property that’s going to be your future main source of business, or you have a percentage (> 20%) of employees carrying out research in a role that requires a Master’s degree or higher. Are you also a Knowledge Intensive Company (KIC)? Must not be a Limited Partnership (LLP) company.Ģ.
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Must have a permanent establishment in the UK.Must have been trading for less than 2 years up until the time you issue SEIS shares, and less than 7 years up until the time you issue EIS shares.Must have under 25 employees to qualify for SEIS and under 250 employees to qualify for EIS.not including the new funding) to qualify for EIS. Must have under £200,000 in gross assets pre-money to qualify for SEIS and under £15 million gross assets pre-money (i.e.There are also a number of eligibility criteria that will need to be checked before making the SEIS/EIS application, including:
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You also need to be directly providing the restricted services to be disqualified from SEIS/EIS, for example, building a technology platform to service financial companies would still qualify. HMRC requires a substantial element (>20 %) of the companies trade activity to be included in the restricted area. If your company is involved in any of those activities then don’t worry, you still might qualify. The excluded trades include those dealing in land or commodities, those involved in banking, insurance or money lending, those providing legal or accountancy services, those involved in property development, and those generating and exporting electricity, producing coal and steel, or shipbuilding. First thing to do is check whether your company operates in any of the HMRC excluded activities. Most companies/products qualify for SEIS and EIS funding, but there are a number of activities excluded from the schemes entirely.
EIS APPLICATIONS HOW TO
How to apply for SEIS/EIS Advance Assurance 1.
EIS APPLICATIONS UPDATE
We update this post regularly so you know it’s always up-to-date with the latest SEIS/EIS application rules from HMRC.ĭo your SEIS/EIS Advance Assurance application on SeedLegals and our team will ensure you have everything you need for a speedy acceptance. So we put together this handy step by step guide on how to apply.
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We know it can be hard to navigate what’s needed for a successful application and any mistakes mean you have to reapply which can set your funding round back weeks or months. To view DOE's Office of Fossil Energy e-Docket for this project, please see the docket index.At SeedLegals we’ve helped hundreds of UK startups secure SEIS/EIS Advance Assurance from HMRC. DOE, Office of Fossil Energy, has an obligation under Section 3 of the Natural Gas Act to authorize the import and export of natural gas, including LNG, unless it finds that the import or export is not consistent with the public interest. The USCG and MARAD, in cooperation with the Federal Energy Regulatory Commission (FERC), also analyzed the potential environmental impacts of the proposal’s associated on-shore portion of the deepwater port facilities, which the FERC has regulatory jurisdiction over.ĭOE was a cooperating agency in preparing the EIS and has adopted the EIS. The United States Coast Guard (USCG) and the Department of Transportation’s Maritime Administration (MARAD) analyzed the potential environmental impacts of a proposal to construct and operate a deepwater port for the liquefaction and export of liquefied natural gas (LNG) in federal waters approximately 37.4 to 40.8 nautical miles off the coast of Cameron Parish, Louisiana.