Mr. Dan Johnson assisted Ricardo's spin-out venture with obtaining both Seed Enterprise Investment Scheme (SEIS) and Enterprise Investment Scheme (EIS) advance assurance of qualification for tax reliefs from HMRC (the U.K.'s taxation authority) for the benefit of its various founders/managers and external investors.
Further information with regard to the venture is available at:-
https://ricardo.com/news-and-media/press-releases/ricardo-spin-out-company-formed-to-exploit-potenti
https://www.linkedin.com/pulse/cryopower-clean-diesel-dolphin-n2-explores-some-global-simon-brewster/
Mr. Johnson commented:-
"This work continues my 'record' of having obtained advance assurances in relation to every single (= 100%) advance assurance application I have ever been professionally involved with - including (on only) one occasion when I had to educate HMRC as to the application of the legislation to particular factual circumstances (N.B. No one should treat Wikipedia as a completely accurate source of information!) .
On occasion, this has involved adjustments to the relevant investee company's arrangements so that their plans comply with the relevant legislation - so that any advance assurance they might obtain has validity (and is unlikely to be subsequently challenged by HMRC).
In reality, the preparing and submitting an appropriately detailed application for advance assurance is the 'real process' by which an investee company (and most importantly - its prospective investors) can gain comfort that they will genuinely qualify for the tax reliefs under the relevant SEIS and EIS legislation.
There are regrettably a lot of non-legally qualified and/or unauthorised advisors in this field - whose advice and assistance is of dubious quality.
An advance assurance obtained on the basis of incorrect or incomplete information isn't worth the paper it's written upon - So seek efficient and cost-effective advice (from a Solicitor) - Not something that is 'cheap and (potentially) nasty from 'sub-optimal advisors."
Mr Johnson added:-
"I wish 'Dolphin N2' every success with their project, which has the opportunity to make a significant impact in reducing CO2 emissions from diesel engines".
For any legal advice and assistance with SEIS and EIS projects, please do not hesitate to contact:-
Mr. Dan.Johnson@EquitableLaw.com
+44 (0) 7788 537 187 = U.K. Cellular / e-Telephone
www.EquitableLaw.com
October 2018
No comments:
Post a Comment