RE: {External} Re: [LondonOpenCoffee] Can SEIS be 'retro-active'?

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RE: {External} Re: [LondonOpenCoffee] Can SEIS be 'retro-active'?

Daniel (Meetup)

Tree / Andrew

 

When doing this you need to be extremely careful as the individual may be classified as a connected person and not eligible for the relief.

 

They can be classified as a connected person by having debts repaid, or within a time of 2 years prior to the SEIS/EIS investment they would receive in excess of 30% of the company assets on winding up. Normally, due to company boot strapping, an investor would be by far the largest creditor and by definition become a connected person.

 

I’ve provided links to our SEIS and EIS factsheets that will hopefully assist.

 

SEIS

EIS

 

 
Sam Berry
Partner

Mobile: 07766 514004
Haines Watts Logo

London

 
Telephone: 0207 025 4616
 

New Derwent House, 69-73 Theobalds Road,
London, WC1X 8TA

 


          
Haines Watts London LLP is a limited liability partnership registered in England & Wales, no. OC332724. A list of the names of the principals is available at the registered office.

The contents of this e-mail and any attachments are confidential to the intended recipient. If you are not the intended recipient, please notify the sender and delete it. Be aware that emails are not secure and may contain viruses. Unless expressly stated, the content of the e-mail should not be understood to create any contractual commitments.

From: [hidden email] [mailto:[hidden email]]
Sent: 29 January 2018 10:22
To: [hidden email]
Subject: {External} Re: [LondonOpenCoffee] Can SEIS be 'retro-active'?

 

If the money came in as a loan, that should be fine. It's two transactions, one to repay the loan and a separate one to invest on an equity basis.

 

I can connect you to my accountant (Connolly in MK) if you want this handled for you. They're inexpensive and I use them to avoid screw ups on matters like this. 

 

Email me Andrew dot Lockley at Gmail dot com 

 

Andrew Lockley 

Andrewlockley.com 

 

On 29 Jan 2018 10:11, "Tree Elven" <[hidden email]> wrote:

Hi everyone,

 

Thank you in advance for reading this and pitching in with any advice.

 

I've had financial support from an individual while getting my MVP, early-stage marketing, and other start-up essentials underway. 

 

My company has been SEIS-approved and my backer is now wondering if he can parlay the money he's put in over the past 18 months into an SEIS equity-share investment.

 

Does anyone have experience in this? Thanks, and have a great week, y'all!

 

Tree

Founder, ADDS at http://addvertising.org/

Mercedes Benz makes Roger Federer the embodiment of tennis excellence through the decades, dexterously coupling his performance with their marque and taking some fun ...

 





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Re: {External} Re: [LondonOpenCoffee] Can SEIS be 'retro-active'?

Daniel (Meetup)

Hello Sam,


Many thanks for your helpful response. We're taking a look at the documentation you sent.


Kind regards,


Tree




From: [hidden email] <[hidden email]> on behalf of Sam Berry <[hidden email]>
Sent: Monday, January 29, 2018 12:38 PM
To: [hidden email]
Subject: RE: {External} Re: [LondonOpenCoffee] Can SEIS be 'retro-active'?
 

Tree / Andrew

 

When doing this you need to be extremely careful as the individual may be classified as a connected person and not eligible for the relief.

 

They can be classified as a connected person by having debts repaid, or within a time of 2 years prior to the SEIS/EIS investment they would receive in excess of 30% of the company assets on winding up. Normally, due to company boot strapping, an investor would be by far the largest creditor and by definition become a connected person.

 

I’ve provided links to our SEIS and EIS factsheets that will hopefully assist.

 

SEIS

EIS

 

 
Sam Berry
Partner

Mobile: 07766 514004
Haines Watts Logo

London

 
Telephone: 0207 025 4616
 

New Derwent House, 69-73 Theobalds Road,
London, WC1X 8TA

 


          
Haines Watts London LLP is a limited liability partnership registered in England & Wales, no. OC332724. A list of the names of the principals is available at the registered office.

The contents of this e-mail and any attachments are confidential to the intended recipient. If you are not the intended recipient, please notify the sender and delete it. Be aware that emails are not secure and may contain viruses. Unless expressly stated, the content of the e-mail should not be understood to create any contractual commitments.

From: [hidden email] [mailto:[hidden email]]
Sent: 29 January 2018 10:22
To: [hidden email]
Subject: {External} Re: [LondonOpenCoffee] Can SEIS be 'retro-active'?

 

If the money came in as a loan, that should be fine. It's two transactions, one to repay the loan and a separate one to invest on an equity basis.

 

I can connect you to my accountant (Connolly in MK) if you want this handled for you. They're inexpensive and I use them to avoid screw ups on matters like this. 

 

Email me Andrew dot Lockley at Gmail dot com 

 

Andrew Lockley 

Andrewlockley.com 

 

On 29 Jan 2018 10:11, "Tree Elven" <[hidden email]> wrote:

Hi everyone,

 

Thank you in advance for reading this and pitching in with any advice.

 

I've had financial support from an individual while getting my MVP, early-stage marketing, and other start-up essentials underway. 

 

My company has been SEIS-approved and my backer is now wondering if he can parlay the money he's put in over the past 18 months into an SEIS equity-share investment.

 

Does anyone have experience in this? Thanks, and have a great week, y'all!

 

Tree

Founder, ADDS at http://addvertising.org/

Mercedes Benz makes Roger Federer the embodiment of tennis excellence through the decades, dexterously coupling his performance with their marque and taking some fun ...

 





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