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Updated slides show me the money, nov 2012
1. Content is for information only. No action should be taken without seeking professional advice Jeffreys Henry LLP 2012
2. Jeffreys Henry LLP
• Established over 100 years ago
• A top 100 firm of Chartered Accountants
• Based in the heart of London’s Silicon Roundabout
• Our approach - We work with you!
• Significant experience working with entrepreneurial
technology/digital businesses…
5. SEED ENTERPRISE INVESTMENT SCHEME
– Available from 6 April 2012
– Companies can raise up to £150,000 under SEIS
– Only available for new businesses
– Up to 50% tax relief for individual investors
– A rare opportunity to mitigate Capital Gains Tax in 2012/13 only
– Up to 100.5% loss relief if the company fails
– Can raise a further £1m through EIS once 75% of SEIS funds are spent
6. SEED ENTERPRISE INVESTMENT SCHEME
– The receipt of Advance SEIS Assurance from HMRC does not guarantee
that any Investment made will actually qualify for relief
– This will depend on whether the terms of the transaction, the
individual investors and the company all qualify for relief both when
the investment is made and for a period of three years after the date
the shares are issued
– Always seek professional advice
7. Several of the SEIS Fund Managers
that we work with are looking for
companies to invest in.
Contact us for more information.
8. Enterprise Investment Scheme
– SEIS’s big brother
– Income tax relief is 30%
– Investment of up to £1 million
– Loss Relief
9. Patent Box
• Comes into force on 1 April 2013
• An opportunity to apply a 10% rate of Corporation Tax to worldwide
profits attributed from Patents and certain other Intellectual Property (IP)
• Combined with Research & Development Tax Relief, there is an
opportunity for a significant tax reduction
10. Qualifying Patents
• The Patent Box will only apply to products, and processes covered by
patents, which have been granted by either the UK Intellectual Property
Office, the European Patent Office, and patent offices of certain EEA
countries. It does not apply to trademarks, brands and copyrights
• In addition it has to meet the ‘development condition’
Broadly speaking, the development condition requires a company to
significantly contributing to the creation of the patented invention or
performing a significant amount of activity to develop the patented
invention, any product incorporating the patented invention, or any
process incorporating the patented invention
11. Patent Pending
• Patent applications that are pending are not eligible,
• However, provided that the company with a pending patents elects
into this scheme, the reduction in corporation tax may be back-
dated up to six years prior to the grant
Qualifying Businesses
• The Patent Box will be available to most businesses within the
scope of UK corporation tax.
• Individuals, partnerships and limited liability partnerships are not
eligible
12. Research & Development Tax Relief
• An amount of 225% of the qualifying expenditure can be
claimed against tax
• Must be related to your existing trade or one to be started
• Basically scientific or technological advances
• If no profits then can claim credit against PAYE & NI
