The following Tax guidance note provides comprehensive and up to date legal information covering:
Venture Capital Reliefs Team
HM Revenue and Customs
[Commercially sensitive information]
Dear Venture Capital Reliefs Team
Background to the advance assurance request and our authority to act as agent
We are writing, alongside the completed form VCSAA and SEIS checklist, to request the advance assurance of HM Revenue & Customs (HMRC) that it will be able to authorise the Company to issue certificates under section 257EC of the Income Tax Act 2007 (ITA 2007), in respect of the ordinary shares (the Shares) to be issued by the Company as outlined below, following receipt by HMRC of a satisfactorily completed Form SEIS1.
As outlined further below, it is intended that the Company is or will be a ‘qualifying company’, will issue ‘relevant shares’ to investors and will issue such ‘relevant shares’ for the purposes of a ‘qualifying business activity’, in each case as such term is defined for the purposes of Part 5A of ITA 2007.
We are authorised by the Company to act on its
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