First, you should consider only investing in companies that have SEIS advanced assurance. This means the company has already applied for and received confirmation that they can offer SEIS tax incentives to investors. Without advanced assurance there is no guarantee that you will see any tax relief materialise.
Second, you need to know that you cannot claim your money back until the company you've invested in has been trading for four months or, if it has not been trading, has spent 70% of the total investment.
When the company has been trading for four months, or if it has spent 70% of the total investment, the company must complete and return the SEIS1 form to the SCEC (the Small Companies Enterprise Centre, part of the HMRC).
When the SCEC has reviewed the form and confirmed that the company has met the requirements of SEIS, the SCEC will issue an "SEIS3" claim form to the company which must then be sent to each investor for completion.
When an investor receives the SEIS3 form the form is to be completed and submitted as a part of the investors' tax return.
SEIS relief can be claimed up to five years after the 31 of January for the year in which the investment was made.
If you have any further questions about claiming back SEIS tax relief we suggest getting in touch with the Small Companies Enterprise Centre.