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THE INVESTOR

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THE INVESTOR Powered By Docstoc
					BES - SEED CAPITAL RELIEF

       KEVIN KENNY



      Ernst & Young, Cork
     THE ENTREPRENEUR
• €2,000,00O / €1,500,000
• Expires 31 Dec 2013
• Qualifying Activities
   Manufacturing
   Tourism
  R+D
   Software Development
   International Traded Services
   Advance Factory
          THE INVESTOR
• €150,000 / €300,000 p.a.
• Unrestricted – Allowable Total Income
• Tax Reliefs Curtailed
   Pension Contributions
   Property Incentives
• Risk Environment
   Portfolio Management
   Exit 5 Years ? or
   Pure Equity Play
     THE ENTREPRENEUR
• Capital Raising
   Direct, or
   Via Fund
• Exit or no Exit
   Structuring of Equity
   Valuation Issues - Capping
   Funding 5 Years
       THE PRACTITIONER
• Manufacturing - Generic Definition
• Exit Put / Call Options - Market Value Test
• 30 % Connected Party Rule
    Excludes Relatives
• Issue Shares - National Westminster Case
• 3 Year Trading Rule
• 4 Month Trading Rule
• Eligible Shares
   New
   No Preferential Rights /Flexibility
       THE PRACTITIONER
• 1% Capital Duty Abolished
• Tourism Excludes Hotels, Guest Houses etc
   Property 75% Maximum
   Balance Sheet Valuation
• Advance Factory
   Industrial Agency Certificate
• Software Development
   Employment Grant

				
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