BES - SEED CAPITAL RELIEF

KEVIN KENNY

Ernst & Young, Cork

THE ENTREPRENEUR• €2,000,00O / €1,500,000

• Expires 31 Dec 2013• Qualifying Activities

Manufacturing Tourism R + D Software Development International Traded Services Advance Factory

THE INVESTOR• €150,000 / €300,000 p.a.• Unrestricted – Allowable Total Income

• Tax Reliefs Curtailed Pension Contributions Property Incentives

• Risk Environment Portfolio Management Exit 5 Years ? or Pure Equity Play

THE ENTREPRENEUR

• Capital Raising Direct, or Via Fund

• Exit or no Exit Structuring of Equity Valuation Issues - Capping Funding 5 Years

THE PRACTITIONER• Manufacturing - Generic Definition• Exit Put / Call Options - Market Value Test

• 30 % Connected Party Rule Excludes Relatives

• Issue Shares - National Westminster Case

• 3 Year Trading Rule• 4 Month Trading Rule• Eligible Shares

New No Preferential Rights /Flexibility

THE PRACTITIONER

• 1% Capital Duty Abolished• Tourism Excludes Hotels, Guest Houses etc

Property 75% Maximum Balance Sheet Valuation

• Advance Factory Industrial Agency Certificate

• Software Development Employment Grant