SEIS eligibility

[web-mentor]

Hi all,

I've received an offer of investment in a software product I've developed. The product itself has been trading for 15 months within a limited company that has been incorporated for 10 years.

Historically I used the company for my consulting work but I'm now 100% focused on this product.

Would the product be eligible for SEIS, either if kept within the current limited company, or if transferred to a new limited company?

Many thanks,

Rob

 

[Rory Downey]

Unless you hold less than 30% of the company, no, except some capital gains relief

 

[web-mentor]

Thanks Rory.

I own 100% of the company.

Would there be any scope to transfer the product into a new company to qualify for SEIS?

 

[Rory Downey]

What way is the investment coming in? Are you married and could split the shareholding accordingly?

 

[web-mentor]

Straight cash for equity swap.

Yes, married and could split my shareholding if necessary.