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Readers' forum : Reaping the benefits

17 July 2018
Issue: 4656 / Categories: Forum & Feedback

Eligibility for reliefs on a SEIS investment that has made a profit.

During the 2015-16 tax year I invested £10 000 in a company eligible for the seed enterprise investment scheme (SEIS). I received £5 000 income tax relief. The company is now being sold and I will be receiving a cheque for £50 000.

I have four questions:

  • Do I have to return the £5 000 relief to HMRC given the sale is within three years?
  • Do I have to pay the 2015-16 capital gains tax rate on any gain or the current year’s rate?
  • If the charge is for 2015-16 can I claim more of an exemption by getting double relief with my partner with whom I have been in a relationship since 2010?
  • If I do pay capital gains tax can it be offset against a £6 000 loss on shares I am making in this current tax...

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