A simplified “convertible loan” which under certain circumstances would appear at present to come within SEIS relief rules. However they are relatively new on the scene in the UK, and whilst HMRC seems to have approved relief in a handful of instances, we are concerned that further investigation may disallow them.
At present, whilst we would not suggest they are a bad idea and incompatible with SEIS, we would stop short of recommending the ASA as a viable option when mixed with SEIS on every occasion. We would instead advise proceeding with due caution in the knowledge that until SEIS approval is specifically granted by HMRC, there may be issues.
