How long does your advance assurance last for? We get asked this a lot!
An advance assurance does not expire on a particular date and it does not last for a specified time period.
Your advance assurance is only as good as the information you provided to HMRC to grant it. If something changes, for example, your company’s group structure, trade or your articles of association, your company may fall outside eligibility, regardless of the fact you have an advance assurance in your hand from HMRC.
If you hold something back from HMRC to get the advance assurance granted, this does not mean your company is eligible. It just means that HMRC doesn’t yet know that it’s not.
HMRC makes the decision about the eligibility of your shareholders when you submit the application to claim for them after your round has closed.
They can withdraw the EIS or SEIS relief after it has been approved if they later discover anything that means the company falls outside eligibility.