Law firm

Changes to HMRC SEIS/EIS Guidance for Film and TV Companies

HMRC updated its Venture Capital Schemes Manual VCM8560 on 15 March 2021.

The update is regarding Example 3 of VCM8560 which presents an example of a qualifying film company.

The new guidance provides further clarity on how the risk-to-capital condition applies to Film and TV production companies that are seeking SEIS/EIS advance assurance approval.

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Miri Finch joins The Jonathan Lea Network

This week we are excited to announce that Miri Finch, an excellent and renowned researcher and copywriter in her field, has joined our consultant team as a Legal Assistant (Non-Solicitor).

Miri has been appointed to this role to help our team deal with several cases we’ve been attracting that relate to infringements on people’s civil liberties as a result of the Coronavirus pandemic. Much of the existing legal world either has not yet had time to understand the new regulations, or does understand them, but has little sympathy with people who want to challenge them.

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Sharing the love

At the Jonathan Lea Network we are always looking for ways to get involved with and support our local community.

Given several of the team have children at local schools and with this year’s Children’s Mental Health Week theme of ‘Express Yourself’, this month we were delighted to be able to provide a wealth of optimistic and enlightening new books to two local primary schools, Bolnore Village Primary and Warden Park Primary Academy.

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A Guide to Convertible Loan Notes

Convertible Loan Notes (“CLN”) are loan notes which grant the holder a right to subscribe or convert the loan amount into shares in the relevant company. We will explore the potential benefits and drawbacks of using CLNs in more detail below, but they are often used as a form of bridging facility by start-up companies ahead of a future round of venture capital financing.

Where an investor invests in a company via a CLN, unlike a venture capital investment where equity is issued up-front, the investment amount will be treated as a loan to the company and (subject to the terms of the CLN) there will be an option or right to convert that amount into shares in the company at a later point in time. Another key difference when investing via a CLN as opposed to venture capital, is that the share price and most likely the class of share will not be known at the date of the investment.

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Employee Guidance Where Employers Demand Covid-19 Vaccination

The United Kingdom Medical Freedom Alliance (UKMFA), Lawyers for Liberty and The Workers Union of England have published an open letter to employers who are demanding Covid-19 Vaccination of Employees. Employees and potential employees are able to share this letter with employers who are proposing to mandate Covid-19 vaccines on their employees.

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Eye-Opening Statistic

As common as it is to say “don’t judge a book by its cover,” websites are subject to an extreme level of snap judgements that immediately influence perceptions of credibility. Whatever impression people get of our website visually, it doesn’t tell the whole story in terms of how popular and successful it is.

We recently thought we’d better check on Google analytics to see how well our site is performing given it had been at least a year since we’d last delved into this data.

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Can an investment be EIS qualifying if a company acquires intellectual property and/or generates revenue from royalties?

Can an investment be EIS qualifying if a company acquires intellectual property and/or generates revenue from royalties?

The Enterprise Investment Scheme (EIS) is an attractive option to those wishing to grow their business and attract the attention of investors (by offering tax reliefs to those who invest).

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