Quote:
Originally Posted by redshoes
I can't see the "shares" being worth anything beyond one season, and I can't believe he's managed to get this past HMRC to get the "investment" to qualify for tax relief. It's not really an investment in the team, it's a one-off funding exercise.
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One of the things Rob forgot to mention is that Rob Austin Racing Limited must be a proper trading entity and this is something HMRC will scrutinize carefully. He also forgot to mention that HMRC will reclaim all tax relief given under this scheme to investors if the limited company ceases within three years.
... there is one other [possibly serious] thing he forgot to mention. In the UK, I believe it's against the law to offer shares in a private limited company to the general public. Only PLCs can do that... and establishing and listing a PLC through an IPO is quite an involved process. Justin Wilson did something along these lines a few years ago.
... as I said, Rob would be well advised to take this site down right now.