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X-Wind Power v CRC, Upper Tribunal (Tax and Chancery Chamber), 27 July 2017
Error cannot be corrected
The taxpayer submitted a compliance certificate enabling its investors to claim seed enterprise investment scheme (SEIS) relief at 50% (ITA 2007 s 257EB). But instead of the SEIS form it used the EIS1 form which is applicable to the enterprise investment scheme under which relief is allowed at 30%. HMRC authorised the taxpayer to issue EIS compliance certificates. The mistake came to light only when the taxpayer applied for a further compliance certificate. HMRC refused this on the ground that there was an earlier EIS investment which precluded the company from using the SEIS. It refused to accept a SEIS application instead of the EIS one. The First-tier Tribunal dismissed the taxpayer’s appeal although it was satisfied that the use of the form was due to an inadvertent and innocent mistake.
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