The following Tax practice note provides comprehensive and up to date legal information covering:
This Practice Note explains how the key people who are running a company seeking growth (ie seed, venture and development) capital will be taxed in the UK on any shares they hold in the company.
Unquoted companies require investment at every stage of development, from inception through to where the company is fully established and profitable. Companies will often seek investment from the private equity and venture capital industry, where investors provide finance in return for an equity stake in potentially high growth companies.
Where companies are in the early stages of development or looking to expand further, the investment can take the form of:
seed capital, which is capital provided to completely new businesses—finance is usually provided by friends and family of the entrepreneur setting up the business and by business angels (usually unconnected wealthy individuals)
venture capital, which is capital provided after seed investment and during the first few years of a business—finance is provided by investors such as venture capital funds, venture capital trusts (VCTs) and business angels (the term 'venture capital' can sometimes be used to also encompass seed capital)
development capital, which is capital provided to mature companies that are looking to expand and develop further and is usually provided to fund a restructuring or a specific acquisition—finance is usually provided by private equity
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This Practice Note considers proprietary estoppel from a generic standpoint.For industry specific guidance on proprietary estoppel, see Practice Notes:•Estoppel and property law•Mortgages by estoppelProprietary estoppel—what is it?Unlike the other forms of estoppel (see Practice Note: Estoppel—what,
Private nuisancePrivate nuisance is an unlawful interference with a person's use or enjoyment of land or some right over or in connection with it. Interference must be unreasonable, and may be caused, eg by water, smoke, smell, fumes, gas, noise, heat or vibrations. Where the defendant has not
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This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further below.Note: this Practice Note does not deal with the
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