If you realise you used the wrong nominal value on SEIS3 certificates, the fix depends on whether the SEIS1 was also affected and whether any investors have claimed relief.
1. Was the SEIS1 also incorrect?
If yes:
Contact HMRC at enterprise.centre@hmrc.gsi.gov.uk to notify them of the mistake and provide the correct nominal value. HMRC will advise if anything further is needed.
We’ve provided a template below - revise as applicable to your situation.
2. SEIS1 was correct
Next check whether investors have claimed relief using the incorrect SEIS3.
• If investors have already claimed:
- Email HMRC (Venture Capital Reliefs Team) with the details of the error: enterprise.centre@hmrc.gsi.gov.uk. They’ll confirm next steps.
• If investors have not yet claimed:
- Reissue corrected SEIS3 certificates to those investors. No need to contact HMRC.
HMRC Email Template (Revise as needed)
Send to: enterprise.centre@hmrc.gsi.gov.uk
Dear Venture Capital Relief Team,
I am writing regarding the approved SEIS1 compliance submission reference: [XXX] or [TBC]
I am a Director of the company in question, [INSERT COMPANY NAME].
Unfortunately, we made a mistake when filing the original SEIS1 and stated the nominal value incorrectly.
What was correct in the submission:
- The number of shares issued.
- The supporting documents.
- The investment amounts.
- The "Details of investors" CSV.
What was incorrect in the submission:
- The nominal value was submitted as £[x.xxx] but should have been stated as £[x.xxx].
Solution?
- We seek to amend the previous SEIS1 submission to allow the correct nominal value £[x.xxx] to be reflected on the SEIS3 forms we issue to investors.
How may this be achieved please?
I hope to hear from you soon.
