VCM14060 - Venture Capital Schemes Manual: the Enterprise Investment Scheme: income tax relief: company procedures: information needed with the compliance statement

The following information will be required to complete the compliance statement EIS1 form, available from GOV.UK, HMRC’s website Guidance: Use the Enterprise Investment Scheme (EIS) to raise money for your company:

• A company must provide its date of incorporation, address, corporation tax unique tax reference (as provided by HMRC) and the Company Registration Number (CRN). The CRN will have been provided at the time of notification to Companies House. The company address should be the registered address of the company which should be the same address as that lodged with Companies House.
• If not already supplied as part of an advance assurance a company must provide all of the items listed in VCM60120 in support of the compliance statement.
• If the company has applied for advance assurance for the scheme this should be indicated where applicable on the EIS1 form and where there have been any changes to the documents supplied as part of an advance assurance, up-to-date copies of these documents will need to be provided.
• An explanation of how the company and the investment meet the risk to capital condition, see VCM8530
• Where a company is stating that it is a knowledge-intensive company in respect of the share issue it must meet provide evidence of how it meets the conditions in VCM8161+
• An explanation of how the share issue meets the growth and development requirement, see VCM8130

The submission of a false compliance statement attracts a penalty under S207 ITA2007. The maximum penalty is £3,000.