Section 15 | Seed enterprise investment scheme: increase of limits etc.

(1)Part 5A of ITA 2007 (seed enterprise investment scheme) is amended in accordance with subsections (2) to (5).

(2)In section 257AB (form and amount of SEIS relief), in subsection (2)(b), for “£100,000” substitute “£200,000”.

(3)In section 257DI (the gross assets requirement)—

(a)in subsection (1), for “£200,000” substitute “£350,000”;

(b)in subsection (2), for “£200,000” substitute “£350,000”.

(4)In section 257DL (the amount raised through the SEIS), in each of the following provisions, for “£150,000” substitute “£250,000”—

(a)subsection (1);

(b)subsection (4)(a);

(c)subsection (4)(b);

(d)in subsection (6), the definition of “A”.

(5)In section 257HF (meaning of “new qualifying trade”)—

(a)in subsection (1)(a), for “two” substitute “three”;

(b)in subsection (2), for the definition of “two year pre-investment period” substitute—

(6)In Schedule 5BB to TCGA 1992 (seed enterprise investment scheme: re-investment), in paragraph 2—

(a)in sub-paragraph (1), for “£100,000” substitute “£200,000”;

(b)in sub-paragraph (2), in the formula, for “£100,000” substitute “£200,000”.

(7)The amendments made by this section have effect in relation to shares issued on or after 6 April 2023.