Private Markets desk
Venture capital trusts and the Enterprise Investment and Seed Enterprise Investment Schemes: the tax reliefs, the holding periods, the risks and the official statistics. Our sister title SEIS Investments covers SEIS in depth.
VCT, EIS & SEIS · Analysis
£276m was raised under SEIS in 2024 to 2025, up 14% on the year before, according to HMRC statistics published on 21 May 2026. Growth has slowed since the April 2023 expansion, and the latest two years of figures are provisional.
Private Markets · Guide
SEIS relief only works if the company qualifies and keeps qualifying for three years, and it does nothing to rescue a weak business. These are the questions to put to a founder before you subscribe, and the documents that should back up the answers.
Private Markets · Explainer
Advance assurance is HMRC's non-statutory, discretionary opinion that a company's planned share issue looks likely to qualify for SEIS or EIS. It does not guarantee any investor's relief, it does not vouch for the business, and it says nothing about whether the company will keep to the rules for the next three years.
Private Markets · Guide
Under the 2026 to 2027 rules, a young UK company can raise up to £250,000 under SEIS, and its investors can claim 50% income tax relief on up to £200,000 each a year. The company must pass tests on its trade, gross assets, staff and independence, issue SEIS shares before any EIS shares, and file a compliance statement before investors can claim.
Private Markets · Explainer
SEIS gives UK taxpayers 50% income tax relief on up to £200,000 a tax year invested in new shares of very young companies, with capital gains and loss reliefs on top. The reliefs are generous because the risk is severe: most start-ups fail, and the shares are hard to sell.
Private Markets · Analysis
On a £10,000 stake, SEIS relief cuts the money at risk to £5,000 and EIS relief to £7,000 before loss relief. If the company fails, an additional-rate taxpayer loses £2,750 net under SEIS and £3,850 under EIS: the reliefs change the size of the bet, not the odds.
VCT, EIS & SEIS · Explainer
The three venture capital schemes trade relief for risk: SEIS gives 50% income tax relief on the youngest companies, EIS 30% on larger unlisted ones and VCTs 20% on a listed fund. The April 2026 changes cut VCT relief and doubled the EIS and VCT company investment limits; SEIS was left alone.
VCT, EIS & SEIS · Guide
Under the 2026 to 2027 rules, a young UK company can raise up to £250,000 under SEIS, and its investors can claim 50% income tax relief on up to £200,000 each a year. The company must pass tests on its trade, gross assets, staff and independence, issue SEIS shares before any EIS shares, and file a compliance statement before investors can claim.
VCT, EIS & SEIS · Explainer
SEIS gives UK taxpayers 50% income tax relief on up to £200,000 a tax year invested in new shares of very young companies, with capital gains and loss reliefs on top. The reliefs are generous because the risk is severe: most start-ups fail, and the shares are hard to sell.
TID Professional
Market view, vehicles and due diligence, regulation and tax for advisers and wealth managers. Free to verified professionals.
Register as a professionalTID Professional is for investment professionals. Content in this section is not suitable for private investors and should not be relied on by them.
Coming to this room
FCA, HMRC and Consumer Duty changes, and what they mean for advice
The first Professional briefings for this desk are on the way. Register to hear when they publish.
