Startup Refunds for Entrepreneurs (SURE) / Seed Capital relief
SURE is a tax relief that provides a refund of income tax that you paid in previous years. You can claim the relief if you are an employee, an unemployed person or a person who has recently been made redundant and are starting your own business.
The general conditions for SURE are that you must:
- establish a new company carrying on a new qualifying trading activity
- have mainly Pay As You Earn (PAYE) income in the previous four years
- take up full-time employment in the new company as a director or an employee
- invest cash in the new company by purchasing new ordinary shares
- keep the purchased shares for at least four years.
There are a number of specific conditions that the individual and the company must meet in order to qualify for this relief. For more information on the qualifying conditions see the SURE manual on www.revenue.ie
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