EIS or SEIS?

Incorrect form submitted

In June 2014 F on behalf of the taxpayer wrote to HMRC for advance assurance in connection with a seed enterprise investment scheme (SEIS) proposal. HMRC replied that it would authorise the company to issue compliance certificates (ITA 2007 s 257EC) on receipt of form SEIS1.

In July 2015 the taxpayer submitted a form EIS1 instead of an SEIS1. HMRC confirmed receipt but checked that the company had intended to provide the EIS1. However the company had moved so it did not receive the letter. In September HMRC gave authority for the company to issue compliance certificates.

In April 2016 the company submitted an SEIS1 and asked that the EIS1 be withdrawn. HMRC refused.

The First-tier Tribunal noted that the case was similar to X-Wind (TC5086) and GDR (TC5219). These were not binding but X-Wind’s appeal was later dismissed by the Upper Tribunal in a...