Background As you will know, at EIC we do like the Enterprise Investment Scheme (“EIS”). It is a really attractive Government sponsored tax relief for growing businesses. However, that does not mean it is not without its complexities. Indeed, EIS can be very complex and advice should always be taken before putting such a structure
Background The 2016 Budget again proved to be perfect opportunity for our fine Chancellor to tinker with Entrepreneurs’ Relief (ER) – one of the most attractive reliefs provided to entrepreneurs. However, in contrast with some of the previous tinkering to the regime, these changes were generally of a positive nature and should generally increase the availability of the relief.
Background In a recent survey of some of the UK’s wealthier private investors, 41% stated that they would be prepared to invest in Small and Medium Enterprises (SMEs). Two thirds of such investors also feel confident that UK SMEs can deliver attractive levels of growth. However, frustratingly, they do not know the best way to
We had a meeting yesterday in London with a Russian domiciled individual. This had been organised by a chap, who worked for a large business, looking to raise capital. The chap had asked me to attend to advise his client on some of the potential structuring issues and opportunities that might flow from a potential investment of overseas
So, how do the “Rich” avoid paying their taxes? Well one answer according to Channel 4’s recent Dispatches episode is by abusing EIS and Film Schemes in combination. What did not come across very well from the tv programme was that, in fact, the EIS part of the tax planning seemed wholly legitimate and that
Over the last few years, the tide has been firmly against non-doms. The 2015 Summer Budget was no exception. One relief introduced under the previous Coalition Government stood firmly against that tide – and that relief is BIR. In a nutshell, the BIR rules allow taxpayers on the remittance basis to bring their offshore income and
Introduction This case is an illustration of how complex the Enterprise Investment Scheme (“EIS”) and Seed EIS can be and also the unforgiving approach often adopted by HMRC and the Courts in relation to ‘getting it wrong’. The First-tier Tribunal (FTT) held that a right to repayment of the nominal value of shares in priority
The business group, the Institute of Directors (IoD), has called on the government to boost entrepreneurship by simplifying key tax reliefs.. The IoD has claimed in a new report out this week that the full potential of the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) is “not fully being realised” due to
The previous article focused on the DNA of BIR. This next part considers a couple of potential ideas on how the relief might be super charged! Overlap with EIS and Seed EIS It is worth noting that a BIR investment might also qualify for Enterprise Investment Scheme (EIS) or Seed Enterprise Investment Scheme (SEIS) relief.
Introduction In the past, as exemplified in the recent Summer Budget, changes to the remittance rules have generally limited the scope for a non-UK domiciliary to bring foreign income or gains to the UK without incurring UK tax. Against this tide, was the introduction (in 2012) of BIR for remittance basis users. It was, and