• Just a quick word on the SEIS forms some of you will have received from the first round (and which those of you who invested in the second round will receive shortly).

    I don't want to give you any tax advice, but it's definitely worth making sure you claim the relief on your tax return (if you do one, although I think there is a way to claim under PAYE). Even if you only invested £10, you should be able to claim back £5 against income tax.

    But more importantly, if Microcosm has a big exit, the company's SEIS status means you won't pay any capital gains tax (generally 28% on profits). However, you can only claim this CGT relief if you made the upfront claim. So absolutely worth the minor hassle.

    I did a self-assessment tax return for the first time last year and it wasn't harrowing as I thought it was going to be, and a few weeks later I got a cheque from HMRC.

About

Avatar for FrankSeedrs @FrankSeedrs started