Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Tue, 09 Jan 2024 15:15:19 GMT by
Hi there I have not registered to submit a self assessment before, but ideally would like to do so and submit an FY23 tax return, solely for the purpose of claiming EIS tax relief. My only income is as an employee, captured by PAYE. I realise now that by the time my registration is complete, the filing deadline will be past. Would I receive a penalty in this case? Is my only alternative now to submit the paper forms? I know it is much easier to submit via self assessment. Is there any other alternative to the paper forms, eg. a letter to HMRC just listing the company name/share issue date/UIR number and claim with my details? The forms are incredibly laborious. Thanks.
Posted Tue, 16 Jan 2024 09:29:11 GMT by HMRC Admin 19

If your investment is less than £33,000 there is no need to submit a tax return, you only need to send in the certificates to confirm the investment and which year relief is being claimed against.

Thank you.
Posted Tue, 16 Jan 2024 10:48:05 GMT by
Hi Thanks for the response. This doesn't answer my question unfortunately. Submitting it via tax return takes all of 20 minutes, and submitting via certificates (for 40 investments) would take me about 6 hours of form filling, printing and mailing. Will I be penalised for a late return if it's only for EIS certificates? Can I submit the same detail required in a tax return (the details of the certificates rather than the certificates themselves) directly to HMRC by letter instead? Thank you.
Posted Thu, 18 Jan 2024 09:50:53 GMT by HMRC Admin 20
Hi Jay Moran,
If your tax return is late then yes an automatic fine for late filing would be imposed.
You can put the information on the tax return and send in the certificates as evidence.
Thank you.


You must be signed in to post in this forum.