Not planning on starting a MB, but out of interest does anyone know if starting a MB falls under the allowable occupations for seed capital or other tax benefits (such as reclaiming income tax paid to start a company etc.)? I think manufacturing is allowable but not sure if MB is classed as this.
Does starting micro brewery allow seed capital contribut
13 years 11 months ago #2
Interesting. I wonder why more people (especially those that are recently unemployed) don't follow this route? It's pretty much free money if the revenue agrees.
Does starting micro brewery allow seed capital contribut
13 years 11 months ago #4
Yeah, it is a good idea for manufacturing industries. The manufacturing industries are prescribed on the website, it is very specific on funding things like mushroom growing???. however some areas of the country appartently can be excluded depending on where the manufacturing is to be. You can claim your income tax back from a 3 year period, not so bad.
Does starting micro brewery allow seed capital contribut
13 years 8 months ago #5
"jimmybobp":1lnzup0r wrote: Interesting. I wonder why more people (especially those that are recently unemployed) don't follow this route? It's pretty much free money if the revenue agrees.[/quote:1lnzup0r]
I know I'm a little late with this reply but the thing about Seed Capital is that your tax refund is based on the investment you make in the company, so you have to put money in to get any tax back.
The other downside is that when you invest money via Seed Capital, you are in effect buying shares in the company which means that the way to get you investment back is somebody actually buying your company.
