VCM14050 - Venture Capital Schemes Manual: the Enterprise Investment Scheme: income tax relief: company procedures: company’s compliance statement

It is essential the compliance statement EIS1 form(the form is available from GOV.UK, HMRC’s website Guidance: Use the Enterprise Investment Scheme (EIS) to raise money for your company) is filled in accurately as the information contained within the compliance statement is the information HMRC uses to confirm the eligibility of a particular share issue for the relevant relief. Any misleading or incomplete information may result in delay of confirming the company’s eligibility under the EIS.

A company cannot ask HMRC to issue certificates if it has ceased to satisfy any of the EIS conditions before it submits its compliance statement. For example, coming under the control of another company would make the issue of certificates impossible even where, had relief already been obtained, it would have been preserved by the operation of ITA07/S247 or TCGA92/SCH5B/PARA8 (see VCM16030).