EIS form Questions

#1

Hi Guys,

Does anybody know the address to send your EIS form to? And if your reply is ‘my HMRC tax office’ please can you give some advice on how to find that?

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#2

I never sent it, process it via online self assessment instead.

(Vladislav Kozub) #3

HM Revenue and Customs
BX9 1AS

Are you sure you can file EIS3 form online? You need to submit the hard copy signed by Freetrade’s (or whoever you invested in) Secretary

#4

But i am taxed through PAYE?

(Vladislav Kozub) #5

You can tick on the form “register against my PAYE records” and it will be applied automatically to whichever FY you prefer - when you invested or the preceding year.

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#6

Ok thanks Vlad so I’ll do that and send it to the address you sent?

(Vladislav Kozub) #7

This is their main address I have always used to submit my EIS3 forms from Crowdcube. You could also send it to your local HMRC office but I have never done it myself hence not sure if it is viable.

Bear in mind it may take weeks for them to process the form :sweat_smile:

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#8

Yeah this is the thing, I’ve spent weeks actually trying to find the address of my local and have not been able to find it so I’m going to follow the address you have given it’s the only answer I’ve got.

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(Gareth) #9

Thanks for your help @Vlad, by chance I’ve just been filling in my EIS form tonight and came on here to see if anyone had similar questions about sending it off.

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#10

Still confused on this… do you just find the form online, fill it in, and post it?

(Vladislav Kozub) #11

You will get it by post

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(Lewis) #12

I reckon it’s probably worth someone from Freetrade (@alex.s) making a proper post on this, detailing exactly how you claim EIS as I suspect a lot of people will be asking, myself included.

As far as I understand, in a few weeks/months we’ll receive something in the post from Freetrade, which we then need to fill out a form and send them both to HMRC? If that’s true, would be good to have a link to the form, timelines on when we’ll receive the thing from FT, and what needs to be put in this form.

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(Dave Smith) #13

I’ve always posted them to the main PAYE enquiries address which is
HM Revenue and Customs
BX9 1AS

as Vlad posted above.

I didn’t think you could do it online? You get a form in the post that is already partially filled in, only a few extra bits to fill in then post it off

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#14

Oh. I’m confused about this. :tired_face: I’ve received my forms from my investments months ago but didn’t send them off because I thought I had to wait for 3yrs at least.

Now it seems to me that I should have claimed income tax relief already? So, am I right in thinking that to claim CGT/Loss relief, I need to hold the shares for 3yrs but I can claim income tax relief as soon as I’ve received the forms? 🤦

(Zain) #15

Yep, there’s two separate things here, CGT relief and income tax relief.

You’re due income tax relief in the year you purchased the shares (or the previous year if you elect to do so).

You’re also exempt from CGT when you sell the shares (if you do), as long as you’ve held them for three years and claimed income tax relief.

Good news is you can claim income tax relief up to 5 years after purchasing the shares, so you’re still in the clear for sending in your EIS forms.

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#16

Thank goodness for this post. Now it makes sense to me why do some people can’t seem to wait to receive their forms. 🤦
I only work part-time and don’t go over my personal allowance. Can I still claim income tax relief even if I don’t pay income tax? :cold_sweat:

(Zain) #17

Ah, sadly not. You should still apply (even though you’ll get £0) to ensure that you get CGT relief when you do sell.

Tax relief is just that, relief on tax. If you don’t have any to pay in the first place, you’ll get relief on £0. Sorry!

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#18

I thought so but wanted someone knowledgeable to confirm. Thanks a lot for answering my questions. Much appreciated. :+1: