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Job Retention Scheme

On 20 March as part of these efforts the Chancellor announced the Coronavirus Job Retention Scheme, a temporary scheme open to all UK employers including charities and non-profits for at least three months starting from 1 March 2020. The scheme is due to be up and running by the end of April.This funding will be open to all employers with a PAYE payroll scheme that was created and started on or before 28 February 2020, including charities.and can be on any type of contract.
Workers recruited after 28 February 2020 cannot be furloughed or claimed for.

Employers can apply for grants of 80% of furloughed employees’ (employees on a leave of absence) monthly wage costs, up to £2,500 a month, plus the associated Employer National Insurance contributions and minimum automatic enrolment employer pension contributions on that wage, provided they keep the worker employed. The scheme will cover the cost of wages backdated to 1 March 2020, if applicable.

Furloughing means keeping them on payroll but placing them on a leave of abscence during which they do not work for your business.
The employer needs to get agreement from the worker to do this, unless it’s covered by a clause in the employment contract.
Any furlough agreements should be in writing.
The employer can decide who to designate as a furloughed worker. If an employee disagrees with their employer’s decision they’ll need to talk to their employer and try to come to an agreement.

To be eligible for the grant, furloughed employees cannot work for or on behalf of the organisation or business including providing services or generating revenue. While on furlough, the employee’s wage will be subject to usual income tax and other deductions.

If an employee is working, but on reduced hours, or for reduced pay, they will not be eligible for this scheme and employers have to continue paying the employee through payroll and pay their salary subject to the terms of the employment contract you agreed.

If you placed your employees on unpaid leave after 28 February 2020 to deal with the impact of COVID-19, they can be furloughed and be eligible for the scheme. If they were put on unpaid leave before 28 February 2020, they are not eligible for the scheme.
Directors of limited companies can use the scheme to access a grant for themselves if they are registered under PAYE payroll scheme. If the scheme doesn’t apply, the government has encouraged directors to look at other support such as the Coronavirus Business Interruption Loan Scheme.

You can only submit one claim at least every three weeks, which is the minimum length an employee can be furloughed for. Claims can be backdated until 1 March 2020 if applicable.

Once HMRC have received your claim and you are eligible for the grant, they will pay it via BACS payment to a UK bank account.

You should make your claim in accordance with actual payroll amounts at the point at which you run your payroll or in advance of an imminent payroll.

You must pay the employee all the grant you receive for their gross pay and no fees can be charged from the money that is granted. You can choose to top up the employee’s salary, but you do not have to.

When the government ends the scheme, employers must make a decision as to whether employees can return to work. If not, it may be necessary to consider redundancy.
More detailed guidance will be published in due course and please be assured we will advise you when the scheme is open.

Job retention Scheme (Italiano) 

Il 20 marzo scorso, nell’ambito dei provvedimenti per Covid19 e’ stato emesso il decreto relativo al Coronavirus Job Retention Scheme. Un regime temporaneo aperto a tutti i datori di lavoro del Regno Unito, compresi enti di beneficenza e non profit per almeno tre mesi a partire dal 1 ° marzo 2020, con entrata in vigore e in esecuzione entro la fine di aprile. Questo finanziamento sarà aperto a tutti i datori di lavoro con un sistema di gestione stipendi PAYE che sia stato creato e avviato il 28 febbraio 2020 o prima, compresi gli enti di beneficenza. E’ applicabile a qualsiasi tipo di contratto.
I lavoratori assunti dopo il 28 febbraio 2020 non possono usufruirne.

I datori di lavoro possono richiedere una sovvenzione dell’80% dei costi salariali mensili dei dipendenti (dipendenti in congedo in assenza), fino a £ 2.500 al mese, oltre ai contributi sociali a carico del datore di lavoro associati e ai contributi pensionistici minimi del datore di lavoro con iscrizione automatica su tale salario, a condizione che mantengono il lavoratore impiegato. Il regime coprirà il costo dei salari retrodatati al 1 ° marzo 2020, se applicabile.

Sospensione significa tenerli sul libro paga ma metterli in congedo durante il quale non lavorano per l’azienda.
Il datore di lavoro deve ottenere un accordo dal lavoratore preventivo a meno che non sia coperto da una clausola nel contratto di lavoro.
Eventuali accordi di collaborazione devono essere scritti.
Il datore di lavoro può decidere chi designare come lavoratore licenziato. Se un dipendente non è d’accordo con la decisione del proprio datore di lavoro, dovrà parlare con il proprio datore di lavoro e provare a trovare un accordo.

Per essere ammissibili alla sovvenzione, i dipendenti  non possono lavorare per o per conto dell’organizzazione o del business, compresi la fornitura di servizi o la generazione di entrate. Durante la permanenza, il salario del dipendente sarà soggetto all’imposta sul reddito normale e ad altre detrazioni.

Se un dipendente lavora a orari ridotti o per una retribuzione ridotta, non puo’ accedere a questo regime e i datori di lavoro devono continuare a pagare il dipendente attraverso il libro paga e pagare lo stipendio secondo i termini del contratto di lavoro concordato.

Se dopo il 28 febbraio 2020 i dipendenti sono fossero stati licenziati non retribuiti per far fronte all’impatto di COVID-19, questi possono essere sottoposti al Job Retention Scheme. Se sono stati messi in congedo non retribuito prima del 28 febbraio 2020, non sono ammissibili al regime.

Gli amministratori di società possono utilizzare il regime per accedere a una sovvenzione da soli se sono registrati nell’ambito del sistema PAYE. Qualore non fosse applicabile, il governo ha incoraggiato i direttori a cercare altro supporto come il Coronavirus Business Interruption Loan Scheme

Si puo’ fare richiesta del Coronavirus Job retention Scheme ogni tre settimane, ovvero la durata minima per la quale un dipendente può essere sospeso. Le richieste possono essere retrodatate fino al 1 ° marzo 2020, se applicabile.

Una volta che HMRC ha ricevuto richiesta se idonea, il pagamento avverra’ tramite pagamento BACS su un conto bancario nel Regno Unito.

È necessario che la richiesta presentata sia per un importo conforme con gli importi effettivi a libro paga aggiornato al momento della richiesta.

Il dipendente tha diritto a ricevere tutta la sovvenzione per la sua retribuzione lorda e nessuna commissione può essere addebitata dal denaro concesso.

Quando il governo terminera’ questa concessione, i datori di lavoro devono decidere se i dipendenti possono tornare al lavoro. In caso contrario, potrebbe essere necessario considerare la ridondanza.
Una guida più dettagliata e’ stata annunciata in pubblicazione. Ne daremo seguito quando sarà pubblicata.

 

Covid 19 Updates – Aggiornamento

This is a quick summary of the latest advice and guidance from Government for individuals and businesses on its coronavirus pages.

We will do our best to update  and keep you and your business informed.

Eng version

Coronavirus Job Retention Scheme

Under the new Coronavirus Job Retention scheme, government grants will cover 80% of the salary of PAYE employees who would otherwise have been laid off during this crisis. The scheme, open to any employer in the country, will cover the cost of wages backdated to 1 March 2020 and will be open before the end of April. It will continue for at least three months and can include workers who were in employment on 28 February.

To claim under the scheme employers will need to:

  1. designate affected employees as ‘furloughed workers’,
  2. notify employees of this change.
  3. submit information to HMRC about the employees that have been furloughed and their earnings through a new online portal. (

Note that changing the status of employees remains subject to existing employment law and, depending on the employment contract, may be subject to negotiation;

  • HMRC will reimburse 80% of furloughed workers wage costs, up to a cap of £2,500 per month.

HMRC further details and a system for reimbursement are visible here. In the business that need short-term cash flow support may benefit also from the VAT deferral (see below) from a Coronavirus Business Interruption Loan (see below).

Income Tax payments

Income Tax payments due in July 2020 under the Self-Assessment system will be deferred to January 2021.

Income Tax Self-Assessment payments due on the 31 July 2020 will be deferred until the 31 January 2021. No applications are required, there are no penalties or interest for late payment in the deferral period.

Statutory Sick Pay (SSP)

  • Directors of a limited company with less than 250 employees, can pay themselves two weeks of SSP if they need to self-isolate subject to meeting the minimum payroll requirement for SSP.
  • The government will refund £94 per week, maximum £188, to the company.

It will also refund SSP for staff of businesses with less than 250 employees for up to two weeks

HMRC Time to Pay Scheme

HMRC’s enable firms and individuals in temporary financial distress as a result of Covid-19 to delay payment of outstanding tax liabilities with this Scheme.

VAT payments

The next quarter of VAT payments will be deferred automatically. Businesses do not need to apply for it.

Businesses will not need to make VAT payments until the end of June 2020. and will have until the end of the 2020-21 tax year to settle VAT liabilities accumulated during the deferral period.

Refunds and reclaims will be paid by the government as normal.

Universal credit

Full universal credit is granted to self-employed people at a rate equivalent to statutory sick pay.

Business Rates holidays and cash grants

  • No Business rates payable for the 2020-2021 tax year for any business in the retail, hospitality or leisure sectors.
  • \Businesses in those sectors, with a rateable value between £15K and £51k, will also receive a cash grant of up to £25,000 per property.
  • Any business which gets small business rates relief, including those in the retail, hospitality or leisure sectors, will receive a cash grant of £10,000 (increased from £3,000 announced in the 11 March Budget).
  • The rates holiday and cash grants will be administered by local authorities and should be delivered automatically, without businesses needing to claim.

Coronavirus Business Interruption Loan Scheme

  • The Scheme should be available from Monday 23 March. All the banks that partner with the British Business Bank will be the lenders,
  • They are foreseen for UK-based businesses with turnover of no more than £45 million and can provide for a facility up to £5 million.
  • No interest will be charged for the first 12 months.
  • The borrower remains liable for 100% of the debt.
  • The lender receives a guarantee of 80% of the loan amount from the government

COVID-19 corporate financing facility

The Bank of England has set up a scheme that will operate for at least 12 months.to finance working capital by purchasing commercial paper from larger business.

Applicants do not need to have previously issued commercial paper in order to participate.

Mortgage and rent holiday

Mortgage borrowers can apply for a three- month payment holiday from their lender. Both residential and buy-to-let mortgages are eligible for the holiday. It is important to remember that borrowers still owe the amounts that they don’t pay as a result of the payment holiday. Interest will continue to be charged on the amount they owe.

Tenants can apply for a three-month payment holiday from their landlord. No one can be evicted from their home or have their home repossessed over the next three months.

Insurance claims

Businesses that have cover for both pandemics and government-ordered closure should be covered. The advice to avoid pubs, theatres, etc., is sufficient to make a claim as long as all other terms and conditions are met. Businesses should check the terms and conditions of their specific policy and contact their providers.

Ecco un breve riassunto deli provvedimenti presi dal Governo a seguito della pandemia Covid19 – coronavirus.

Aggiorneremo questa pagina su base continua per tenere informati te e la tua azienda.

Coronavirus Job Retention Scheme

In base al nuovo regime Coronavirus Job Retention Scheme, le sovvenzioni statali copriranno l’80% dello stipendio dei dipendenti tassati con PAYE che altrimenti sarebbero stati licenziati durante questa crisi. Il regime, aperto a qualsiasi datore di lavoro nel paese, coprirà il costo dei salari retrodatati al 1 ° marzo 2020 e iniziera’ entro la fine di aprile. Continuerà per almeno tre mesi e può includere lavoratori che risultano impiegati al ​​28 febbraio.

Per accedervi i datori di lavoro dovranno:

  • designare i dipendenti interessati come “lavoratori licenziati” e informare i dipendenti di questo cambiamento. La modifica dello status dei dipendenti rimane soggetta al diritto del lavoro esistente e, a seconda del contratto di lavoro, può essere oggetto di negoziazione;
  • inviare informazioni a HMRC in merito ai dipendenti che sono stati informati e ai loro guadagni attraverso un nuovo portale online.
  • HMRC rimborserà l’80% delle spese salariali per i lavoratori dipendenti, fino a un limite di £ 2.500 al mese.

Trovi qui  ulteriori dettagli forniti da HMRC.

Suggerimento se hai bisogno di maggiore liquidita’:

HMRC sta lavorando con urgenza per istituire  questo  sistema di rimborso, ma i tempi non sono brevi. Se necessiti di sostegno a breve termine per i flussi di cassa, puoi beneficiare del differimento dell’IVA (di seguito annunciato) o richiedere Coronavirus Business Interruption Loan (a seguire).

VAT payments

I pagamenti VAT per il prossimo trimestre e’ stato differito automaticamente Le aziende non devono richiederlo. I rimborsi e i crediti saranno invece pagati dal governo normalmente.

La prossima scadenza e’ quindi Giugno 2020.

E’ prorogato antro la fine dell’anno fiscale 2020-21 il termine per saldare eventuali passività accumulate durante il differimento periodo.

Income Tax payments

I pagamenti del Self Assessment dovuti a luglio 2020 saranno differiti a gennaio 2021.

I pagamenti dovuti il ​​31 luglio 2020 saranno differiti fino al 31 gennaio 2021.

E’ un riinvio automatico per il quale non va fatta  Nel periodo di differimento non verranno addebitati penali o interessi per ritardi di pagamento.

Universal credit

I lavoratori autonomi possono ora accedere al credito universale a un tasso equivalente alla retribuzione obbligatoria per malattia.

HMRC Time to Pay Scheme

Il sistema Time to Pay di HMRC può consentire alle imprese e alle persone in difficoltà finanziarie temporanee a causa di Covid-19 di ritardare il pagamento delle passività fiscali in sospeso.

Sospensione per Business Rates  e sovvenzioni  cash

  • Nessuna tariffa da pagare per l’anno fiscale 2020-2021 per qualsiasi attività commerciale nei settori della vendita al dettaglio, dell’ospitalità o del tempo libero.
  • In questi settori, se il valore imponibile è compreso tra £ 15K e £ 51k, e’ prevista anche una sovvenzione in contanti fino a £ 25.000.
  • Qualsiasi azienda che riceve agevolazioni sui tassi per le piccole imprese, comprese quelle nei settori della vendita al dettaglio, dell’ospitalità o del tempo libero, riceverà una sovvenzione in contanti di £ 10.000 (aumentata da £ 3.000 annunciata nel bilancio dell’11 marzo).
  • La sospensione ed i prestiti saranno gestiti dalle autorità locali automaticamente, senza che le aziende debbano reclamare.

Coronavirus Business Interruption Loan Scheme

Sono disponibili per le aziende con sede nel Regno Unito con un fatturato non superiore a £ 45 milioni e possono fornire una struttura fino a £ 5 milioni.

I mutui dovrebbero essere disponibili da lunedì 23 marzo e consegnati da istituti di credito che collaborano con la British Business Bank, quindi tutte le principali banche.

Il finanziatore riceve una garanzia dell’80% dell’importo del prestito dal governo

Il mutuatario rimane responsabile per il 100% del debito.

Nessun interesse verrà addebitato per i primi 12 mesi.

COVID-19 corporate financing facility

La Banca d’Inghilterra ha istituito un sistema per finanziare il capitale circolante acquistando cambiali a breve da grandi aziende “dando un contributo materiale all’economia del Regno Unito”. Per partecipare, non è necessario che le aziende abbiano precedentemente rilasciato documenti commerciali. Il regime funzionerà per almeno 12 mesi.

Mortgage and rent holiday

I mutuatari del mutuo possono richiedere una sospensione dal pagamento per tre mesi dal loro prestatore.

Il provvedimento riguarda i mutui residenziali e i buy-to-let. È importante ricordare che i mutuatari devono ancora gli importi che non pagano a causa della vacanza di pagamento. Gli interessi continueranno ad essere addebitati sull’importo dovuto.

Gli inquilini possono richiedere una sospensione di pagamento di tre mesi dal loro padrone di casa. Nessuno può essere sfrattato dalla propria abitazione o essere riappropriato della propria abitazione nei prossimi tre mesi.

Insurance claims

Le aziende che hanno copertura sia per le pandemie sia per la chiusura ordinata dal governo dovrebbero essere coperte. Il governo e il settore assicurativo hanno confermato il 17 marzo 2020 che l’invito ad evitare pubs, teatri, ecc. e’ sufficiente per presentare un reclamo purché siano soddisfatti tutti gli altri termini e condizioni. Le polizze assicurative differiscono in modo significativo, quindi le aziende dovrebbero controllare i termini e le condizioni della loro polizza specifica e contattare i loro fornitori.

Statutory Sick Pay (SSP)

Se sei un amministratore di una Limited con meno di 250 dipendenti, puoi pagarti due settimane di SSP se ti devi auto-isolare soggetto, a condizione che la retribuzione soddisfi il requisito minimo di buste paga per SSP.

Il governo rimborserà £ 94 a settimana, massimo £ 188, alla tua azienda.

Rimborserà anche SSP per il personale delle aziende con meno di 250 dipendenti per un massimo di due settimane.

Budget 2020

delivered in a challenging time

Budget 2020 struck a very positive tone although was delivered at a time of considerable uncertainty.

“A fiscal boost”, so said the First Chancellor, “delivered in a very challenging time”.

On personal tax and national insurance, the pensions annual allowance threshold has been announced to increase by £90,000 each from 6 April 2020 bringing the threshold income to £200,000 and the adjusted income to £240,000. The current NIC threshold will be £9,500 instead of the actual £8,632.

A number of provisions in Budget 2020 are devised to help businesses cope with COVID-19, such as the “business interruption” loans of up to £1.2m for small firms or the refund for sick pay payments for Firms with fewer than 250 staff.

Corporation tax rate remains at 19% from 1 April 2020 and saves serious money in public finances, while a Business rates review is expected in September 2020.

Business rates for properties with a rateable value below £51,000: will raise from 33% to 50% in 2020 and to 100% for 2021.

In addition, structures and building allowance (SBA) rate for reduction on qualifying expenses will go from 2% to 3% with effect from 1 April (or 6 April 2020 for unincorporated entities).

The increase in tax reliefs and the employment allowance changes will support many businesses.

The entrepreneurs’ relief limit  cut back from £10m to £1m for disposals on or after Budget Day, with the request, in certain cases, to parties to demonstrate that the transaction was entered into for wholly commercial purposes and not for the purposes of obtaining just a capital gains tax advantage.

Savings obtained through the entrepreneur’s relief rebate will fund important tax breaks from April 2020 such as:

– The increase in Research and Development expenditure Credit R&D is one of them. R&DEC is meant to be raised from 12% to 13% so to enable companies spending in R&D to claim a larger corporation tax deduction for this spend

– The increase in the maximum employment allowance by £1,000 to £4,000, giving a help to small, growing enterprises to take on staff without incurring additional NIC liabilities.

E – VAT finally, e-publications will become zero rated with effect from 1 December 2020. This will make the VAT treatment of e-books, e-newspapers, e- VAT on magazines and academic e-journals the same as their physical counterparts

VAT registered UK businesses will enjoy an important cash flow boost from 1 January 2021 thanks to the postponed accounting for VAT on all imports of goods, as a consequence of the UK’s position as an independent trading nation in international supply chains

The Chancellor not only stressed his commitment to businesses, innovation and technology but to environmental policies as well, mentioning a Plastic packaging Tax from 2022 as a part of the Climate Change Scheme.

Do you want to tackle climate change?

Join the debate

It has been a little under five years since 196 countries negotiated the Paris Agreement, under which they committed to taking steps to limit the increase in global average temperature this century to well below 2 degrees Celsius (3.6 degrees Fahrenheit) over pre-industrial levels, and ultimately to limit that increase to 1.5 degrees C (2.7 degrees F). Under the agreement, each signatory submits its own national plan, setting targets for emissions reductions and specifying pathways by which it aims to meet those targets.
Despite the 2015 agreement, global carbon emissions increased 1.7 percent in 2017 and a further 2.7 percent in 2018; it has been estimated that the rate of increase in 2019 will be among the highest on record. The last four years have been the hottest on record, with 2019 on track to make it five. But analyses suggest that fast action now can reduce carbon emissions within 12 years and hold global increases below 2 degrees C and perhaps 1.5.

Environmental taxes are used by local governments as a tool to reduce and control environmental damage and revenue is explained to be directed to promote economic growth through innovation. The effectiveness of taxation as an environmental instrument suffers of the boundaries given by national jurisdictions to a deployment at a global level and of the skepticism of common people.

Cesca Accounting is helping independent research on environmental taxation policies studies.

One person can do so much. Have your say in our survey filling in a short form and let’s tackle climate change all together.

From TCFD Library:

A seed to start-up

SEIS raise money when you start to trade – SEIS finanzia la tua start up

If you are a business (continued) 

Condizioni per I quattro tipi di finanziamento

  EIS   SEIS   VCT   SIRT
Attivita’ Lorda max £15 millioni max £200,000 millioni max £15 millioni max £15 millioni
Impiegati meno di 250 meno di 25 meno di 250 meno di 250
N di anni +7 anni di attivita’ d’impresa max 2 anni dalla costituzione registered charitiy CIC, CBS  
Massimo finanziamento erogabile  £12 millioni £150,000 £12 millioni £1.5 millioni

  that

  • carries out a new qualifying trade
  • is established in the UK
  • is not trading on a recognised stock exchange at the time of the share issue
  • has no arrangements to become a quoted company or a subsidiary of one at the time of the share issue
  • does not control another company unless that company is a qualifying subsidiary
  • has not been controlled by another company since the date of your company being incorporated

and

it is less than 2 years old, and at the time of investment has:

  • no more than £200,000 in gross assets
  • less than 25 employees
  • not previously carried out a different trade

You can apply for SEIS, the Seed Enterprise Investment Scheme (SEIS) that helps your company raise money when it’s starting to trade.

You can receive a maximum amount of £150,000 in the lifetime of your company through SEIS investments. The company, investor and proposed investment must meet the conditions of the scheme you opt for.

You must spend the money you raise from the investment within 3 years of the share issue. You must use the money on either:

  • a qualifying trade
  • preparing to carry out a qualifying trade
  • research and development that’s expected to lead to a qualifying trade
  • invest to buy shares in a qualifying 90% subsidiary that uses the money for a qualifying business activity.

There are 4 schemes designed to help small or medium sized companies and social enterprises grow by attracting investment . They are EIS, EIS, VCT and SITR. They offer tax reliefs to individuals who buy and hold new shares, bonds or assets for a specific period of time. There may be higher limits if your company carries out research, development or innovation.

We can help you to explain the schemes and check if your company meets the requirements and qualifies for the investment before you apply, and if it qualifies, prepare and submit the required documentation to HMRC.

SEIS finanzia la tua start up

Esistono in UK 4 strutture fiscali di finanziamento progettate per aiutare le piccole e medie imprese e le imprese sociali a trovare i fondi per crescere attirando investimenti privati. Sono EIS, EIS, VCT e SITR che offrono sgravi fiscali alle persone che acquistano e detengono nuove azioni, obbligazioni o attività per un determinato periodo di tempo.

se sei una impresa

che

  • ha iniziato da poco a svolgere una attività d’impresa “qualificata” – cioe’ inclusa nell’elenco previsto dal provvedimento
  • sei residente nel Regno Unito
  • non sei quotata o ammessa a negoziazione in borsa al momento dell’emissione delle azioni
  • non hai stipulato alcun accordo per diventare una società quotata o una consociata al momento dell’emissione delle azioni
  • non controlli un’altra società a meno che tale società non sia una società controllata qualificata
  • non sei controllato da un’altra società dalla data della tua costituzione


e

hai meno di 2 anni

  • non superi £ 200.000 di Attivita’ Lorda
  • hai meno di 25 dipendenti
  • e non hai precedentemente effettuato un’altra attivita’ d’impresa

Puoi fare domanda ad HMRC per ottenere il finanziamento SEIS , il Seed Enterprise Investment Scheme (SEIS) che aiuta la tua azienda a raccogliere da finanziatori privati che acquisteranno le tue azioni, i primi fondi necessari quando inizia l’attivita di impresa.

Puoi ricevere un importo massimo di £ 150.000 nel corso della vita della tua azienda attraverso investimenti SEIS. La società, l’investitore e gli investimenti proposti devono soddisfare le condizioni evidenziate per il regime da te scelto.

È necessario spendere i fondi raccolti dall’investimento entro 3 anni dall’emissione della quota ed utilizzarli:

  • per l’attivita’ qualificata d’impresa gia’ in corso, che rientri nelle specifiche esposte nel provvedimento
  • o che inizierai a svolgere
  • per la ricerca e sviluppo da sostenere per avviare l’attivita’ d’impresa qualificata
  • per l’investimento in acquisto di azioni in una controllata qualificata al 90% che esercita un’attività commerciale qualificata.

Speriamo di essere riusciti a informarti sui finanziamenti alle nuove imprese. Possiamo aiutarti a verificare se la tua azienda soddisfa i requisiti e si qualifica per l’investimento prima di presentare la domanda, e assisterti successivamente nella preparazione ed invio a HMRC di tutta la documentazione richiesta.

A seed to start-up –

Why Invest in SEIS? -Vantaggi nel finanziamento alle imprese

If you are an investor …

As the end of the tax year approaches,  you might be interested to consider tax efficient investments to enjoy some or all of the tax benefits.

One of them is the Seed Enterprise Investment Scheme (SEIS),  launched in April 2012 as a means of encouraging investment in start-up companies.

SEIS incentivise private investors to risk capital by investing in small and young businesses with significant investment return potential. Incentives come in the form of income, capital gains and inheritance tax reliefs which combine to make SEIS one of the most tax advantaged, government backed investments available

You can invest in SEIS and join the tax benefits for the tax year ending on 5 April 2020 and you can treat some or all of the shares as being issued in the preceding tax year, as long as you had not reached the limit for the value of SEIS shares purchased (£100,000) in that year.

Why invest in SEIS?

Up to 50% income tax relief on an Investor’s subscription into a Qualifying Company is available on an aggregate maximum Qualifying Investment of £100,000 in the tax year ending 5 April 2018, subject to the Investor having paid sufficient tax for the year.

  • Capital gains tax re-investment relief

An individual may claim 100% CGT deferral in respect of capital gains that are reinvested in SEIS Qualifying Investments made in the same tax year in which the gains were realised.

  • Exemption from capital gains tax

Any capital gains realised on a disposal of Shares in a Qualifying Company after the Relevant Period, and on which SEIS income tax relief has been given and not withdrawn, will be capital gains tax free.

  • Inheritance tax exemption

The value of investments that have been held for two years or more at the date of death should qualify for IHT business property relief. The Business Relief rules generally relate to the ownership of a business, or share of a business included in the deceased estate for inheritance tax purposes. HMRC rules state that Business Relief of either 50% or 100% can be claimed on a business or interest in a business as well as shares in an unlisted company.

  • Loss relief

A loss on EIS qualifying shares due either to disposal at a loss or the shares becoming of negligible value should be capable of being offset against other allowable taxable income. Taken together with the initial income tax relief of 50%, even if their investment was to fall to zero, for a current 45% tax payer, this represents reliefs totalling up to 72.5% or up to 72.5p in the £1 being returned to the Investor, or in other words, a maximum loss of 27.5p for every £1 invested into each company.

  • Business Investment Relief

Prior to 6 April 2012, individuals who were tax resident in the UK, but domiciled outside the UK, would have suffered UK tax on remittance to the UK of overseas income and gains. Under legislation in the 2012 Finance Act, such individuals will no longer suffer UK tax on remittances provided that the money remitted is used in the UK to make a “qualifying investment”. Whilst the definition of “qualifying investment” is wider than the definition of a SEIS qualifying investment, it is the intention of the Fund to invest in Shares that will qualify for these reliefs. Thus, an Investor can benefit not only from the ability to make tax free remittances, but also from the various tax reliefs that arise from SEIS investment. The investment must be made within 45 days of remitting the funds to the UK.

EXAMPLE SEIS INVESTMENT

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