20131112 Mazars Funding Options_James Hughes

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With over 30 years experience, Mazars Ireland is a leading professional services firm. Our services include audit and assurance, consultancy, corporate finance and taxation services. We have a broad client base spanning the corporate, governmental and institutional sectors along with owner-managed businesses and private wealth.
Mazars Ireland is based in Dublin and Galway with a staff of over 200 people and is part of the integrated international firm, Mazars. A young, growth oriented and ambitious firm, Mazars gives employees the opportunity to work across a wide variety of markets and sectors.

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20131112 Mazars Funding Options_James Hughes

  1. 1. NEW BUSINESS OR PRODUCT VENTURES – MONEY BACK FROM REVENUE James Hughes November 2013
  2. 2. TABLE OF CONTENTS 1. Employment & Investment Incentive Scheme (EIIS) 2. Seed Capital Relief 3. Start Up Relief 4. Start Your Own Business Relief (SYOB)
  3. 3. 01 EMPLOYMENT AND INVESTMENT INCENTIVE SCHEME (EIIS)
  4. 4. EMPLOYMENT AND INVESTMENT INCENTIVE SCHEME (EIIS) • Benefits • Cash for Company • Income Tax Relief for Investor
  5. 5. EMPLOYMENT AND INVESTMENT INCENTIVE SCHEME (EIIS) • The Company • Trading company • Unquoted • Residence & Incorporation • Micro, Small and some Medium Sized Enterprises • Max Lifetime limit of €10m • Max Annual limit of €2.5m
  6. 6. EMPLOYMENT AND INVESTMENT INCENTIVE SCHEME (EIIS) The Investor • Resident in Ireland • Hold shares for 3 years • Not connected to company • Relief of €150,000 in any one year
  7. 7. EMPLOYMENT AND INVESTMENT INCENTIVE SCHEME (EIIS) Tax Relief • Initially - 30% • After 3 years - 11%
  8. 8. EMPLOYMENT AND INVESTMENT INCENTIVE SCHEME (EIIS) Practical Issues • EIIS Investors • EIIS Funds • Exit Strategies?
  9. 9. EMPLOYMENT AND INVESTMENT INCENTIVE SCHEME (EIIS) Budget 2014 / Finance Bill Amendments • Removed from High Earners Restriction • Investments from 15 October 2013 to 31 December 2016 • New Class of Investors?
  10. 10. 02 SEED CAPITAL RELIEF
  11. 11. SEED CAPITAL RELIEF Key • Employment in last 6 years? • Paid PAYE on Employment Income? Entitled to Income Tax Refund?!!
  12. 12. SEED CAPITAL RELIEF The Relief • Refund of Income Tax • Max of €100k per annum • Previous 6 years
  13. 13. SEED CAPITAL RELIEF Conditions • Investment in Shares • Qualifying Company • Creation of Employment • Qualifying Employment
  14. 14. SEED CAPITAL RELIEF Other Matters • 2nd Investment • Conversion of Loans
  15. 15. 03 START UP RELIEF
  16. 16. START UP RELIEF • Overview • Relief from Corporation Tax • First 3 years Profits • Incorporation and Commencement • Employment Based Relief
  17. 17. START UP RELIEF The Relief • Relief of up to €40,000 • Marginal Relief to €60,000 • Trading Profits • Carry forward of losses
  18. 18. 04 START YOUR OWN BUSINESS RELIEF (SYOB)
  19. 19. START YOUR OWN BUSINESS RELIEF (SYOB) New Relief • Introduced by Budget 2014 • Encouraged Innovation and Employment • New Business
  20. 20. START YOUR OWN BUSINESS RELIEF (SYOB) The Relief • Exemption from Income Tax • Profits of first 24 months • Limit of €40,000 per annum
  21. 21. START YOUR OWN BUSINESS RELIEF (SYOB) Qualifying Conditions • Commerce to trade • On or after 01 January 2014, and • Before 31 December 2016 • Unincorporated business • Unemployed for previous 15 months
  22. 22. Mazars is present in 5 continents. CONTACT Mazars Harcourt Centre Block 3, Harcourt Road Dublin 2, Ireland Tel: +353 (01) 4494400 Email: mazars@mazars.ie Gerry Vahey gvahey@mazars.ie (01) 449 6423 James Hughes jhughes@mazars.ie (01) 449 6476 mazars.ie

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