How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask TonyTax Your Own Question
TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 16580
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
13905389
Type Your Tax Question Here...
TonyTax is online now

I want to invest in a uk company using the seis scheme. I’m

This answer was rated:

I want to invest in a uk company using the seis scheme. I’m an American citizen residing in the uk on a tier 1 visa until August of 2020. I do not make a uk income. I remit money into the uk. Am I eligible to invest with the seis scheme?
Assistant: Have you talked to a tax professional about this?
Customer: Not yet. My uk tax person said they couldn’t give advice about seis
Assistant: For which tax year do you need advice?
Customer: It would be about this year I guess. I want to make the investment next month
Assistant: Anything else you want the Accountant to know before I connect you?
Customer: No. Thanks

Hi. My name is*****'m looking at your question now and will post my answer or ask for more information here in a short while.

So long as you are UK tax resident you can invest in SEIS. Whether you will get income tax and/or capital gains tax relief will depend on the amount of UK tax you pay. look here for more information.

I hope this helps but let me know if you have any further questions.

Customer: replied 30 days ago.
I believe I only pay uk tax on the money I remit into the uk, because I don’t have a uk income. Can the seis tax relief be applied to those taxes?
Customer: replied 30 days ago.
I own a company in the uk. Would it make sense from a tax perspective for my company to make the investment, or is it better if I do it personally?

To the extent that you pay UK tax on your non-UK income you can claim SEIS relief. The government wants to encourage UK resident foreign investors to invest in the UK.

The Business Investment Relief route may be better because it effectively makes foreign income remittances UK tax free. You should seek out some independent financial advice on that.

A company cannot claim SEIS relief.

Customer: replied 30 days ago.
If if move abroad, would I still be a uk tax resident?

Not necessarily. If you moved abroad, you may not be remitting foreign income to the UK.

Look here and at RDR3 for information on UK tax residency.

Customer: replied 30 days ago.
Thank you very much

Thanks.

Would you mind rating my answer before you leave the site please.

TonyTax and other Tax Specialists are ready to help you