Answer
The SEIS and EIS compliance statement
What happens after the shares are issued in an SEIS or EIS round?
HMRC says that once the shares are issued, the company submits a compliance statement, form SEIS1 or EIS1, even if it holds advance assurance. If HMRC is satisfied, it issues a unique investment reference, and the company gives each listed investor a SEIS3 or EIS3 certificate to claim relief. Your accountant confirms the timing.
Last reviewed 26 October 2026. Written by HAM Agency.
Closing the round feels like the end. For an SEIS or EIS raise it isn't, because your investors can't claim anything until you've done one more thing with HMRC.
The order HMRC sets out
HMRC's guidance for both schemes gives the same sequence.
- Issue the shares.
- Complete the compliance statement, form SEIS1 or EIS1.
- Send it to HMRC.
- If HMRC agrees, it sends a letter of authorisation and a unique reference number.
- You give each investor a compliance certificate, form SEIS3 or EIS3, with that reference on it.
HMRC says the company secretary, a director or an agent can submit the statement. An agent needs a signed letter, dated within the last 3 months, confirming they can act for you.
Advance assurance doesn't replace it
Advance assurance is HMRC's answer before the round on whether an issue is likely to qualify. HMRC's investor guidance says a company with that letter must still complete the compliance statement, and that the statement confirms the company has met the scheme's conditions and will keep meeting them for the next 3 years.
If you have advance assurance, HMRC says you send copies of any documents that have changed since. If you don't, the list is longer: the business plan and forecasts, the latest accounts, how you meet the risk to capital condition, the articles, and the documents you used to explain the fundraising to investors. Our advance assurance checklist covers that pack.
When you can send it
HMRC sets a timing condition for each scheme.
| Scheme | HMRC says you can submit once |
|---|---|
| SEIS | The new qualifying trade has run for at least 4 months, or at least 70% of the money raised has been spent |
| EIS | The qualifying business activity has run for 4 months |
For EIS, HMRC also gives a deadline: within 2 years of that date, or 2 years from the end of the tax year of the share issue, whichever is later. A separate statement is needed for each share issue.
What investors need from you
HMRC's investor guidance says the certificate only shows HMRC is satisfied the company met the scheme requirements. The investor must also meet the investor conditions. So the company's job is to get the certificates out accurately and promptly, and the investor's accountant confirms the rest.
HMRC also says relief can be withdrawn if the rules aren't followed for at least 3 years after the investment, and that an EIS company must tell HMRC within 60 days if it no longer meets the conditions.
What to do with this
- Put a date in the plan for the 4 month and spend tests, and track the spend as it happens.
- Keep a list of every investor who wants a certificate, with the details the form asks for.
- Ask your accountant who submits the statement, and when.
Keeping that evidence tidy is part of what Raise Ready builds with you.
Questions
Does advance assurance mean I can skip the compliance statement?
No. HMRC's guidance says a company with an advance assurance letter must still complete form SEIS1 or EIS1 after the shares are issued. If you hold advance assurance, you send copies of any documents that have changed since HMRC gave it.
Can I send the compliance statement the day the money arrives?
Not necessarily. For SEIS, HMRC says the company must have carried on the new qualifying trade for at least 4 months or spent at least 70% of the amount raised. For EIS, it says the qualifying business activity must have run for 4 months. Your accountant confirms where you stand.
Who gives investors their certificates?
HMRC's investor guidance says the company issues the SEIS3 or EIS3 certificates, using the unique investment reference HMRC provides, and only to the investors listed on the compliance statement. HMRC's page also says the certificate alone doesn't give an investor relief. The investor has to meet the investor conditions too.
What does Raise Ready do on this?
Raise Ready helps you get the documents in one place and consistent before the round. It doesn't submit the statement, give tax advice or say whether a company or an investor qualifies. Your accountant confirms those points, and a solicitor confirms the share documents.