Microcosm - 2nd Seedrs crowd-funding round

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  • It was, proceeded with caution anyway, but all's good.

  • I got some of those SEIS docs a while ago. I think I filed them in the Too Hard Basket.

    Finances >>>

  • This is explanatory:

    What are the benefits of SEIS for investors?

    Investors can receive initial income tax relief of 50% on investments up to £100,000 per tax year in qualifying shares issued on or after 6 April 2012
    A CGT exemption will offered in respect of gains realised on the disposal of assets in 2012-13, that are reinvested through SEIS in the same year
    The individual investor can be a director of the company, but not an employee
    An individual’s stake in the company can be no more than 30%
    SEIS tax relief applies only to recently incorporated companies
    The company must have 25 or less employees and gross assets of up to £200,000
    For 2012-2013 only, a CGT exemption will be offered in respect of gains realised on the disposal of assets that are invested through SEIS in the same year.

    As with our EIS tax relief examples, we’re going to keep the numbers straightforward and assume you invest £10,000, pay income tax at 45% and capital gains tax at 28%.

    Case 1: The company does well and doubles in value
    Investment = £10,000
    Income Tax Relief = £5,000 (you get 50% of your investment back as a tax bill reduction)
    Profit from sale = £10,000
    Capital Gains Tax = £Zero (if you have held the shares for three years)
    Tax free return = £15,000

    Case 2: After three years the company’s value is the same
    Investment = £10,000
    Profit from sale = £Zero
    Your gain = £5,000 reduction in your income tax bill

    Case 3: The company folds and the shares hold no value
    Investment = £10,000
    Income Tax Relief = £5,000 (you get 50% of your investment back as a tax bill reduction)
    At risk capital = £5,000
    Loss relief = £2,250 (45% of at risk capital)
    Your actual loss = £2,750 (£10,000 – [£5,000 + £2,250])

  • I just got a Loss Relief statement.

    Is there a timeframe limit to claiming the SEIS tax relief? I'm wondering if there's any point scanning the docs and sending them to my accountants. They'll probably ignore them.

  • This^
    Should I give it to our finance dept. I'm PAYE?

  • Ok. So i lost £ 1000, didn't claim so foes that mean I can het a rebate of £750? 50% from income tax relief and then loss relief?

    Also which tax year did we actually put the money in for the 2nd round?

    Being lazy and I'll send to the accountant but checking it is worth doing

  • It's your personal tax return, no? Don't you do that yourself?

  • Self assessment online form is where you can add it I believe.

  • It's not straight forward claiming loss relief as you need to submit a computation.

  • submit a computation.

  • Nope HMRC wrote to me saying that since I am employed by a single employer I don't need to self assess anymore. It's a different world to you freeloaders, erm I mean freelancers :)

  • I think If you want to claim your relief you'll need to do it via a self assessment even if you're PAYE

  • Just got my refund from Mr Tax man

  • Just logged into Seedrs again after 5 years to find a rebate from Microcosm of £24.78


  • Just reinvested it into Tech Will Save Us

  • Why would seedrs credit you? I thought any rebate was from the SEIS tax scheme?

  • Part of the dissolving process I guess

  • I don't flipping know

  • What's the bloody use of ya then?!

  • I am £450 up on another seedrs deal but that's not enough to recoup my microcossies losses. Yet.

  • £12.73 for me. That's going in my bike fund. Might get an innertube for that.

  • £1.07

    Lambo meet-up this weekend?

  • £9.12


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Microcosm - 2nd Seedrs crowd-funding round

Posted by Avatar for Velocio @Velocio