We support start-ups, entrepreneurs and angel investors with expert advice on business structuring, planning and tax reliefs. Awarded Tax Team of the Year at the 2018, 2017 and 2016 Scottish Accountancy Awards, our dedicated Entrepreneurial Group comprises experts from across Chiene + Tait.
For entrepreneurs: business structuring, exit strategy, share schemes, equity structuring, Research and Development tax relief, and sources of funding.
For investors: Seed Enterprise Investment Scheme (SEIS) and Enterprise Investment Scheme (EIS) tax reliefs, EMIs, exit planning, and deal advice and consultations.
• Winners, Tax Team of the Year, 2018, 2017 and 2016 Scottish Accountancy Awards
• Highly commended for “outstanding performance in the context of EIS/SEIS schemes” at the prestigious EIS Association Awards for 2015, 2016 and 2017 – the only team based in Scotland to receive recognition.
We are experts in the tax reliefs available to new businesses and entrepreneurs. We help start-ups and small businesses structure their equity through SEIS and EIS planning, and also help businesses use other available tax reliefs including Research & Development (R&D) Tax Relief and Patent Box. We advise on the suitability of these reliefs (and their alternatives) and submit applications to HMRC – with a 100% success rate in 2015/16.
Our team have significant experience in structuring new businesses, sourcing funding, advising on equity, and supporting clients with business-critical initiatives including:
Share Schemes: an umbrella term for the multiple ways that employees can acquire shares in the business. These often have tax advantages and can incentivise and reward employees. The principal types of share schemes are Enterprise Management Incentives, Employee Shareholder Status, Company Share Option Plans, Share Incentive Plans, and Save As You Earn.
R&D Tax Relief: this is a generous tax break for businesses that engage in projects to advance science or technology. The amount of relief is generally dependent on the size of the business, and not whether the R&D delivered a successful advancement.
Exit strategies: one of the most important elements of any start-up, providing a schematic for possible investors and entrepreneurs alike. We also advise on the availability of Entrepreneur’s Relief upon the sale of a company.
Annual Investment Allowance (AIA): a tax incentive designed to encourage investment, AIA allows businesses to claim tax deductions on capital expenditure that meets certain requirements.
Business support: we also assist with practical and essential day-to-day accounting matters, including managing cashflow, forecasting, software, reporting, and VAT consultations.
Contact us and we will provide the right answer for you.
Investor tax reliefs are a generous set of reliefs to encourage investment in small and new businesses. We are a recognised expert on reliefs including SEIS and EIS and work with angel investors, angel syndicates, and business start-up hubs to advise on the right reliefs and claims.
Seed Enterprise Investment Scheme (SEIS): the most generous tax break of its kind in the world, SEIS encourages investment in new businesses who may not be able to secure funding through traditional debt routes. It works by offering tax reliefs to mitigate investment costs and cover investment losses should the new business fail, and tax breaks for returns on successful investments.
Enterprise Investment Scheme (EIS): the bigger and older brother of SEIS, EIS works along similar lines but applies to larger SMEs. Some businesses may qualify for both SEIS and EIS, so careful consideration is needed to pick the right option.
We also provide expert insight and practical support on deals, and advise new and experienced investors alike on technical matters. We are partners with LINC Scotland, the national association of angel investors in Scotland, and provide specialist tax advice to its members. We also work closely with HMRC to ensure we are one of Scotland’s leading authorities on entrepreneurial and investor tax reliefs and matters.
We’re proud to be a part of Scotland’s booming angel investor network. There are over 700 angels in Scotland who invest tens of millions of pounds each year in new businesses and start-ups.
Contact us for advice with your angel investments.
Our team provides practical and insightful advice designed to meet your needs. We can work across your business needs, from one-off applications and consultancies to fully outsourced accounting systems. Contact us with a specific enquiry and we will help your business and investments grow.
We are proud to support Scotland’s exciting start-up and investment scene. We are advisors to a range of angel investment consortia and LINC Scotland, and private individuals looking to invest.
Neil Norman, our Entrepreneurial Tax Partner, is recognised as one of Scotland’s leading EIS/SEIS experts and is a tireless advocate for investors and entrepreneurs. He is a board member of a number of angel syndicates and works closely with start-ups, investors, university spin-outs, accelerator programmes and HMRC so that the team remains expert on entrepreneurial and investor legislation and opportunities. He also attends HMRC’s Venture Capital Schemes Forums. He is supported by a team of passionate and committed specialists working in tax, audit, VAT, and business support.