Half Day Course                                              

Dates

12 December 2008                                                     

Course Content

 Capital gains tax business taper
Business v non-business taper
The importance of trading company status
Significant non-trading activities
Problems of surplus property and surplus cash
Paper for paper takeovers involving AIM securities
Significance of shares becoming fully listed

 Inheritance tax business property relief
100% business property relief for unquoted shares
Excluded activities – not wholly or mainly making or holding investments
Excepted assets rule and problems of surplus cash
Binding contracts for sale – watch shareholder agreements
Loss of relief where shares become fully listed

 The Enterprise Investment Scheme
Qualifying companies - unquoted, including AIM
Qualifying trades and excluded activities
Application of money raised
Qualifying investors
The connection test
The “business angel” rule

 Other tax consequences of AIM listing
Corporate venturing scheme investing in AIM companies
Venture Capital Trusts and AIM shares
EMI share options – can be quoted or unquoted company
Gifts hold over relief and AIM shares
Gift of quoted investments to charity includes AIM shares
Capital loss on unquoted shares set against income