VCM33070 - SEIS: income tax relief: general requirements: no tax avoidance requirement
ITA07/S257CE
Commerciality and tax avoidance
The shares must not be issued other than for bona fide commercial purposes, and must not be issued as part of a scheme or arrangement whose main purpose, or one of whose main purposes, is the avoidance of tax. The reduction of an investor바카라 사이트™s tax liability which flows from the schemes in the circumstances intended by Parliament is obviously not a tax advantage at which this rule is aimed.
Before any case is challenged solely on these grounds a report should be made to CT Innovation & Growth Team (CTI&G).