Entrepreneurs and Angels – services and advice

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.

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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 2018, 2017, 2016 and 2015 – 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.

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, 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.

Insights from the team:

New Research & Development legislation on the horizon 

With the recent passing of the aptly named L-Day (Legislation Day) for the upcoming Finance Bill, the UK Government has now published its proposed changes to the Research and Development (R&D) Tax Reliefs system, with updates for both the SME and RDEC schemes in tow. These come into effect for accounting periods beginning on or […]

Chiene + Tait Entrepreneurial Tax Team Highly Commended at EISA Awards 2022

The Chiene + Tait Entrepreneurial Tax Team has once again been ‘Highly Commended’ at the EIS Association Awards, which were held last night in the House of Lords. The only firm in Scotland to achieve this recognition, the prestigious awards recognise excellence in the field of EIS and SEIS across the UK. Neil Norman, Entrepreneurial […]

Bitcoin to the moon? Key crypto corporation tax treatments to consider

Towards the end of 2021, the value of Bitcoin rocketed to a new record. The cryptocurrency’s upward trajectory was mainly fuelled by the launch of the first U.S. exchange-traded fund, which saw its value soar by 120% during 2021, reaching an all-time high of almost $66,000. Given the increase in popularity surrounding cryptocurrencies, it makes […]

Digital Boost Grant Tax Implications

Opportunities for any business-related costs to paid for by the Government are hard to come by. However, with working from home or using a hybrid model, likely to be a prominent feature of our economy post-Covid, it was little wonder the Scottish Government’s Digital Boost Grant was so popular. However, one area that probably didn’t […]

Employment benefits: reporting window is just around the corner

This post is part of our Entrepreneurial team’s regular series of blogs. With the end of the tax year just over one month away, it’s time for employers to consider how they’ll be reporting employment benefits. There are three options when it comes to reporting and paying the income tax and National Insurance (“NI”) due [...]

Entrepreneurs Relief to BADR – different name, same rules?

In the spring of April 2020, Entrepreneurs’ Relief (ER) morphed into Business Asset Disposal Relief (BADR) giving those that qualify an opportunity to pay 10% Capital Gains Tax (CGT) on certain capital gains, as opposed to the standard rate of 20%. This applies on the sale of a business or qualifying shares, up to a […]

Llanelli Railway Goods Shed Trust

“I am very happy to endorse Chiene + Tait. We have received invaluable advice from them regarding VAT issues. They have been very thorough and efficient throughout and have acted on our behalf in dealing with HMRC. They identified major savings on the VAT on the capital cost which has enabled our project to move forward.”

Neil Sutherland, MD, Makar

“We were introduced to Chiene & Tait in relation to an R&D tax credit application to HMRC and to say were were delighted with the outcome is an understatement. The specialist service provided made all the difference for a very successful claim and subsequent financial payout. Since this initial experience we have not hesitated in working with Chiene & Tait in subsequent years with continued success. I would reconvened their services to any progressive organisations engaged in R&D activities.”

Martin Nadin, Chief Executive, Scottish Veterans Residences

“They are well-informed about the charity and third sector. Their performance has been seamless, runs on rails, and their size allows them to provide us with a personalised service.”

Chris Wright, Founder, deltaDNA

“We have especially liked Chiene + Tait’s approach: they have always taken a long-term view, working with us to make sure we correctly allocate R&D and show to HMRC the reason each project is valuable research. This has allowed us to successfully secure the tax credits with the minimum of fuss and the confidence each year to invest. I cannot rate Chiene + Tate highly enough. Having worked with other firms during the years on R&D Tax Credits, Chiene + Tait are by far the most professional, easiest to work with and ultimately the best at maximising the value back to the company.”

Tabatha McCree-Cox, Tarbraxus Distillers

“Chiene + Tait offered that expertise which is really important. They have a very friendly team. For example, Kerry on the VAT side has been really good, very detailed: she sets out the information very clearly along with what needs to be done. They are so much better than the previous firm we used.”

Richard Cooper, CEO, Novosound

“Novosound chose to engage with Chiene + Tait for specific tax advice prior to commencing its spin out. We chose C+T due to their deep knowledge of tax treatment with respect to share issues at company formation. This knowledge was exceedingly useful before and during the spin out process. The firm was easy to deal with and when a particular issue arose at the 11th hour, they dropped everything and developed a practical solution that suited all parties. All together C+T are a great firm to work with.”

Bruce Weir, Director, CW Properties

“Chiene + Tait have been excellent to deal with over the last ten years, with clear robust advice on all aspects of our company work. They really do think through solutions to provide best advice at all times.”

Gillian Brown

“They are efficient and I’ve found the people to be easy to work with. They are very transparent in their approach, and always very quick and professional in their responses. I do regard them as a trusted adviser.”

Karen Stark, Head of Finance, Care Visions Group

“Chiene + Tait have provided Care Visions with a professional service from the start: the set-up and parallel runs gave me so much confidence in the decision to outsource. The team at Chiene + Tait are always professional, extremely helpful and reliable.”

Enable Scotland

“As an organisation, we have had a hugely positive experience working with Chiene + Tait. The firm is easy to work with, flexible and promotes a real sense of confidence in their work and advice.”

Barry McCorkell, Director, Aubrey Capital Management

“I had no hesitation in asking for advice from the Chiene + Tait team when HMRC selected us for an Employer Compliance Review. Having longstanding trusted advisers at our side made it a lot easier and a lot less stressful! HMRC’s recommendations were quick to be addressed and adopted so the review, which could have been a challenging and unnerving experience, was instead professional and efficient. I would have no hesitation in recommending the C+T team to anyone in the future.”

Neil Wilkie, COO, Mironid

“We have been delighted to work with Chiene + Tait on our R&D tax credit claim over the past few years. The guidance and professionalism of the C+T team has resulted in a smooth submission process with a concomitant successful outcome. I’d highly recommend their services.”

Keith Thompson, Head of HR, Hampden & Co

“Chiene + Tait are responsive and helpful, and I thoroughly enjoy working with them. They are clear about up-front costs, and I find they provide a good service and value for money.”

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