We recently completed a significant asset purchase and investment into a new company, with complex issues arising from the use of EIS (the Enterprise Investment Scheme). We were required to carry out the following work:
a) Advising the shareholders of the newly formed company. Four of the five shareholders were investors, and consequently had loans put in place with the company, as well as a Shareholders and Subscription Agreement in place in order to protect their position. We also worked closely with the specialist EIS accountant in maximising the chance of taking advantage of this tax relief.
b) Once the investment completed and the company was in funds, we then handled the purchase the assets of a national well-known annual corporate fitness event from a large international events organisation.
Complexities of the transaction included dealing with the tax scheme alongside the transaction, and coordinating both matters alongside each other. The matter was completed in less than one month from instruction.