I've written previously about the problem that some startups can encounter when they purchase IP with a view to developing it to sell in the form of licence or royalty fee income (most typically, software).
I won't rehash the technical rules here (see below), suffice to say that this set-up does not always 'play nicely' with the SEIS and/or EIS tax reliefs.
I recently advised on this matter with a startup company who had suffered this exact problem and received a knock-back from HMRC on their SEIS advance assurance application.
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