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TonyTax
TonyTax, Tax Consultant
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I have invested in a company authorized by a SEIS scheme for

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I have invested in a company authorized by a SEIS scheme for tax relief. This company is involved in the production of theatre. I would like to know if the tax relief that I will be entitled to under the SEIS scheme can be combined with the theatre tax relief as outlined in the Theatre Tax Relief :Consultation published 27, March 2014. The SEIS tax relief is 50% and the theatre tax relief as described under the Tax relief Consultation is 20%. I want to know if they can be combined for 70%, under same company or if the investment needs to be divided between two companies, for example Company A, with 50% for SEIS and Company B, for 20% theatrical. Please see Theatre tax Consultation at at:

Tax relief for theatre.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/324099/PU1614_theatre_tax_relief_consultation.pdf

T Hayes

Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.
Hi.

SEIS tax relief is available to individual investors only at a rate of 50%. Theatre Tax Relief is available to the production company only in the form of a tax credit and is nothing to do with the individual investor. You won't get personal tax relief of 70% but you will benefit indirectly from the theatre tax relief given to the film production company.

Clearly, the theatre production company you have invested in has been authorised by HMRC as qualifying for SEIS funding so the two tax reliefs can interact but one relief goes to the investor and the other relief goes to the production company.

I hope this clarifies things for you but let me know if you have any further questions.
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15763
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
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Expert:  TonyTax replied 1 year ago.
Hi again.

It's been a few days since I answered your question. Is there anything you need further clarification on?

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