S508C Statement of qualification (SURE) by qualifying company

(1)(2) The qualifying company will issue to a specified individual a statement of qualification (SURE) for a relevant investment. This is known as a Statement of Qualification (SURE). It is a statement made by the company that the company is a qualifying company.

(3) The statement of qualification (SURE) will contain information in respect of the company, investment and investor. In respect of the company the statement of qualification will have the company’s name, address and tax reference number. It will contain at a minimum, the date of the share issue, the class of shares issued and the amount subscribed and the number of shares issued. It will have the name, address and PPS number of the individual investors and the amount of the investment which qualifies for relief under section 507 after any reduction required by section 497 or section 508R.

The statement of qualification (SURE) can contain any other information that Revenue may request and it must be in the format that Revenue direct and contain the Statement that this statement is made under this section.

(4) A statement of qualification cannot be issued in respect of a qualifying investment more than 4 months after the end of the year in which the shares were issued.

Relevant Date: Finance Act 2021