UK Tech-Funding Reliefs Index (SEIS/EIS)
Where UK startup equity money actually goes, tracked from HMRC's official EIS and SEIS statistics. EIS from 1993-94 (the year the scheme launched), SEIS from 2012-13. Data pulled 2026-07-23.
Source: Enterprise Investment Scheme, Seed Enterprise Investment Scheme and Social Investment Tax Relief statistics: May 2026 (HM Revenue and Customs). Licence: Open Government Licence v3.0.
Key findings
- In 2024-25, 3,735 companies raised £1,575m through EIS. Information & Communication was the single largest sector at £550m (35% of the total).
- SEIS raised £276m across 2,430 companies in 2024-25. Tech was even more dominant here: £115m (42%) went to Information & Communication companies.
- London and the South East together took 60% of EIS funding and 66% of SEIS funding in 2024-25, a sharp regional concentration in the UK's tax-advantaged startup funding market.
- Advance assurance applications, a forward-looking pipeline signal, ran ahead in 2025-26: 3,310 EIS applications (71% approved in-year) and 4,085 SEIS applications (76% approved in-year).
Source: Enterprise Investment Scheme, Seed Enterprise Investment Scheme and Social Investment Tax Relief statistics: May 2026, under the Open Government Licence v3.0. Figures may be cited with attribution to Founder Tax Partners.
EIS funding, 1993-94 to 2024-25
Total amount raised by all EIS companies each tax year (£ million). This is the longest continuous series in UK startup-funding data: EIS has run since the scheme launched in 1993-94. The most recent year is highlighted.
Amounts rounded by HMRC to the nearest £1 million. Source: HMRC EIS statistics (Table 2), OGL v3.0.
EIS funding by sector, 2024-25
Amount raised by sector (Standard Industrial Classification 2007), highest first. Information & Communication, the tech sector, is the largest single category.
SEIS funding by sector, 2024-25
SEIS funds the earliest-stage companies. Tech's dominance is even more pronounced here than in EIS.
EIS funding by region, 2024-25
Regional allocation is based on the postcode of the company's registered office, which may not match where the investment or trading activity actually took place. London and the South East combined account for 60% of all EIS funds raised.
Advance assurance: the forward-looking pipeline
Advance assurance requests run roughly a year ahead of completed funding: companies apply before approaching investors. EIS applications received (light) versus approved in the same tax year (dark).
Source: HMRC EIS statistics (Table 11), OGL v3.0. 'Approved in the same year' understates the true approval rate for the most recent 1 to 2 years, since some pending applications are still being processed.
Methodology and honest limitations
Source
All figures are read directly from HMRC's published EIS/SEIS statistical tables (ODS format). Industrial allocation is based on each company's SIC 2007 code as held by HMRC; some companies may be re-classified between editions. Regional allocation is based on the postcode of the company's registered office, which may not match where the investment or trading activity actually took place. Company and subscription numbers are rounded by HMRC to the nearest 5; amounts to the nearest £1 million (SEIS) or as published (EIS). Figures marked '<5' or '<1' in the source are recorded as null here, not zero.
Caveats
- Sector and region breakdowns are only published by HMRC for the three most recent tax years (2022-23 to 2024-25); the long-run time series (EIS from 1993-94, SEIS from 2012-13) is UK-wide only, with no sector or region cut.
- Company and subscription counts are rounded to the nearest 5; totals may not sum exactly due to rounding.
- A company's sector is based on SIC 2007 self-classification; SIC-code miscoding is common across HMRC and Companies House data generally.
- Advance assurance requests (AAR) are a forward-looking pipeline signal, not a guarantee: 'approved in subsequent years' outcomes for the most recent 1-2 years are understated because HMRC has not yet processed all pending applications.
- Figures for the most recent tax year in any series may be revised in the next annual release.
Re-running the pull
The pull script is at startups-tech/pipeline/pull_eis_seis_index.py. It downloads the current HMRC EIS/SEIS statistical tables (ODS format) and regenerates the JSON file that powers this page. No manual figures are entered anywhere in this pipeline.
Sources and how to cite
Primary source
Enterprise Investment Scheme, Seed Enterprise Investment Scheme and Social Investment Tax Relief statistics: May 2026. Publisher: HM Revenue and Customs. Licence: Open Government Licence v3.0. Data pulled 2026-07-23.
Cite this index as
UK Tech-Funding Reliefs Index, derived from HMRC Enterprise Investment Scheme and Seed Enterprise Investment Scheme statistics: May 2026. Published under OGL3. Data pulled 2026-07-23.
Download the full dataset (CSV)
Last updated: 2026-07-23.
Raising a SEIS or EIS round?
Advance assurance and SEIS1/EIS1 compliance statements are accountant territory: getting the company and investor tests right before you approach investors avoids relief being clawed back later. We handle advance assurance applications and post-investment compliance for founders raising SEIS or EIS.
Frequently asked questions
What are SEIS and EIS?
The Seed Enterprise Investment Scheme (SEIS) and Enterprise Investment Scheme (EIS) are UK government tax-relief schemes that encourage individuals to invest in early-stage and growth-stage unquoted companies. Investors get significant income tax relief (50% for SEIS, 30% for EIS) plus capital gains benefits, in exchange for taking equity risk in smaller, higher-risk companies. Both schemes require the investee company to meet trading, size and age tests, and companies typically seek HMRC advance assurance before approaching investors.
Why does the technology sector dominate SEIS/EIS funding?
Information & Communication is the single largest sector for both schemes: 35% of all EIS funds raised and 42% of SEIS funds in 2024-25 went to tech companies. Software and SaaS businesses fit the schemes' risk profile well: high growth potential, asset-light balance sheets that would otherwise struggle to raise debt finance, and a well-established pipeline of angel and VC investors familiar with claiming the reliefs. The concentration is self-reinforcing: as more tech-focused investors specialise in SEIS/EIS deals, tech founders raising equity default to these schemes.
Why is EIS/SEIS funding so concentrated in London and the South East?
60% of EIS funds and 66% of SEIS funds in 2024-25 went to companies registered in London and the South East. This tracks the concentration of the UK's angel investor and venture capital networks in and around London. It is a widely cited 'funding desert' problem for founders based elsewhere in the UK: regional companies can access the same reliefs, but the investor networks that use them are heavily London-weighted.
What is advance assurance and why does the pipeline data matter?
Advance assurance is HMRC's optional, non-binding indication of whether a proposed investment is likely to qualify for SEIS or EIS relief, sought before a company approaches investors. Most companies apply for it because investors expect it. In 2025-26, HMRC received 3,310 EIS advance assurance applications and 4,085 SEIS applications, a forward-looking signal of fundraising intentions that runs roughly a year ahead of the completed-funding data in the main tables.
Where does this data come from?
All figures come from HMRC's Enterprise Investment Scheme, Seed Enterprise Investment Scheme and Social Investment Tax Relief statistics, published annually each spring on gov.uk under the Open Government Licence v3.0. The EIS series runs from 1993-94 (the year the scheme launched) and the SEIS series from 2012-13. Sector and region breakdowns are published for the three most recent tax years only.