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Miller's Tales II

 
In the second of a series of articles Pete Miller of Ernst & Young writes about some more recent tax cases that have taken his interest. This time the theme is important issues for different stakeholders in the tax profession
GC Trading v HMRC SPC 00630
 
The first case I want to look at concerns the Enterprise Investment Scheme (EIS). For an individual to qualify for this relief both the investor and the company must satisfy a number of detailed conditions.
 
The facts of the case are straightforward: two individuals TG and JC subscribed for shares in a new company GCT. GCT acquired a qualifying trade for the purposes of the EIS within the appropriate time...
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