Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Condition definition

What does Condition mean? A condition is a contractual term that is fundamental to the bargain. Breach of a condition entitles the innocent party to terminate the contract (treat it as repudiated) and claim damages; breach of a warranty gives damages only. Whether a term is a condition is a matter of construction and context. Parties’ labels help but are not conclusive. Many conditions are implied by statute in sale of goods: the Sale of Goods Act 1979 (England & Wales and Scotland) and corresponding Northern Ireland legislation treat the implied terms as to title, description, satisfactory quality and fitness as conditions, with a...

Seed Enterprise Investment Scheme (UK): individual investor conditions, nominees, connection tests, linked loans, anti-avoidance and exit restrictions

Published by a LexisNexis Tax expert

Practice notes

The Seed enterprise investment Scheme (SEIS), akin to the Enterprise Investment Scheme (EIS), exists to stimulate investment into smaller, higher‑risk trading businesses by offering a suite of tax incentives to individual investors acquiring newly issued shares in those companies. The SEIS framework is prescriptive and imposes a range of conditions that must be satisfied, covering:

individual investors
the issued shares, the funds raised and arrangements in general
the issuing company

This Practice Note concentrates on the criteria applicable to the individual investor. They are set out by reference to the income tax relief contained in Part 5A of the Income Tax Act 2007 (ITA 2007). Capital gains tax (CGT) relief—whether via the disposal exemption or re‑investment relief—applies only to shares that attract SEIS income tax relief, so these criteria equally govern entitlement to CGT relief. For the remaining requirements, refer to the following Practice Notes:

SEIS—conditions for relief: issued shares, the funds raised and arrangements in general
SEIS—conditions for relief: issuing company, and
SEIS—conditions for relief: qualifying trades

For an overview of the various tax reliefs available to qualifying SEIS...

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Web page updated on 21/05/2026

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