http://www.legislation.gov.uk/ukpga/2007/3/section/257DLIncome Tax Act 2007An Act to restate, with minor changes, certain enactments relating to income tax; and for connected purposes.texttext/xmlenStatute Law Database2026-09-18Expert Participation2026-09-16 Income Tax Act 2007s. 788(7)Legal Services Act 2007Sch. 21 para. 161(b)s. 29 192 193s. 211(2)art. 2(h) PART 5ACHAPTER 4257DL1The sum of the following amounts must not exceed £250,000—athe amount of the SEIS investment made in the issuing company which includes the relevant shares (“the current investment”),bthe amount of other SEIS investments made in the issuing company on the same day as the current investment,cthe amount of any SEIS investments made in the issuing company during the period of 3 years ending immediately before that day, anddthe total of any other aid which—iis granted to the issuing company on the day the current investment is made or during that period, andiidisregarding any SEIS investment within paragraph (a) or (b), would be de minimis aid.2An “SEIS investment” is made in a company if—athe company issues shares (money having been subscribed for them), andb(at any time) the company provides a compliance statement under section 257ED in respect of the shares;and an SEIS investment is made on the day when the shares are issued, and the amount of the investment is the amount subscribed for the shares.3“De minimis aid” means de minimis aid within the meaning of Article 2 of Commission Regulation (EC) No 1998/2006 (de minimis aid).The amount of the aid is the amount of the grant, or if the aid is not in the form of a grant, the gross grant equivalent amount (within the meaning of that Regulation).4Subsection (5) applies where, in relation to the current investment—athe sum of the amounts mentioned in subsection (1) exceeds £250,000, butbthe sum of the amounts in paragraphs (c) and (d) of that subsection does not exceed £250,000.5In the case of the current investment and each other SEIS investment made in the issuing company on the same day (if any)—athe appropriate proportion of the shares in the issue constituting the investment and the remainder are to be treated as two separate issues for the purposes of this Part, andbthe requirement in subsection (1) is to be treated as met in respect of the issue comprised of the appropriate proportion of the shares in the issue, but not in respect of the issue comprised of the remaining shares.6“The appropriate proportion” of the shares is— A − B Cwhere—A is £250,000,B is the sum of the amounts in paragraphs (c) and (d) of subsection (1), andC is the sum of the amounts in paragraphs (a) and (b) of that subsection.Pt. 5A applied by Taxation of Chargeable Gains Act 1992 (c. 12), Sch. 5BB para. 8(4) (as inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 6 para. 5)Pt. 5A inserted (17.7.2012) (with effect in accordance with Sch. 6 para. 24(1) of the amending Act) by Finance Act 2012 (c. 14), Sch. 6 para. 1Sum in s. 257DL(6) substituted (6.4.2023 in relation to shares issued on or after that date) by Finance Act 2023 (c. 30), s. 15(4)(d)(7)Sum in s. 257DL(4)(b) substituted (6.4.2023 in relation to shares issued on or after that date) by Finance Act 2023 (c. 30), s. 15(4)(c)(7)Sum in s. 257DL(1) substituted (6.4.2023 in relation to shares issued on or after that date) by Finance Act 2023 (c. 30), s. 15(4)(a)(7)Sum in s. 257DL(4)(a) substituted (6.4.2023 in relation to shares issued on or after that date) by Finance Act 2023 (c. 30), s. 15(4)(b)(7)