Quote:
Originally Posted by davyboy
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.
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This new company is being funded under the
Enterprise Investment Scheme it is a HMRC endorsed scheme, and 'is designed to help smaller higher-risk trading companies to raise finance by offering a range of tax reliefs to investors who purchase new shares in those companies'.
While the choice to invest is down to the individual, there is nothing wrong with Rob proceeding in this manner.