I have invested into an EIS and want to claim tax relief in the previous financial year but my accountant says I cannot do this and will have to make a claim when I next make a tax return, is this correct?
I think the accountant may be overlooking a key point. The following is part of the text that he quoted to you:
If you have an EIS3 for a year for which you have not yet received a tax return, you can request a change to your PAYE tax code, or an adjustment to any Self-Assessment payment on account due.
This is not strictly true, what you should do is to write to HMRC now, enclosing a copy (not the original) of the EIS3 form, and requesting a reduction in the payment on account for 31st July 2013 (if you on self-assessment) or an adjustment of your PAYE code.
Making an EIS investment at this time of year is a great way of reducing tax.
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