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The decisions in recent enterprise investment scheme appeals have elicited varying degrees of sympathy.
KEY POINTS
- No claim for EIS relief because income was below the personal allowance.
- The effect of a reverse takeover on EIS claims.
- Company must carry on a qualifying trade on a commercial basis.
- Get to grips with EIS to ensure clients qualify for the correct relief.
Sometimes when I look at tribunal cases in which the taxpayer has lost I find it hard to summon up much sympathy.
Why did they do that I ask myself. Or did they seriously think that a judge with years of tax experience was really going to believe they were not thinking mostly (or only) about the tax advantage when they took...
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