SEIS / EIS Advance Assurance: Don’t forget..

Don’t forget that you need the names and addresses of prospective investors when applying to HMRC for advance assurance that your company is a qualifying company for the purposes of issuing shares under EIS or SEIS.

Many founders are still unaware and can end up wasting valuable time as HMRC will reject the application immediately.

The problem for many entrepreneurs is that it’s a bit of a ‘chicken and egg’ situation – the investors will normally only express interest once the company has secured advance assurance from HMRC that it qualifies…

Per HMRC’s guidance:

If you’re applying for EIS or SEIS and your company:
– is raising money directly from investors: you must provide the name and address of any prospective investors
– is listed on the Alternative Investment Market (AIM) – you do not need to provide investor information
– plans to list on AIM – you must provide the name and registration number of the nominated adviser that supports its listing
– seeks investment through a fund manager or business promoter – you must provide evidence that they’ve agreed to act on your behalf and will continue to work with you
– seeks investment through a crowdfunding platform – you must provide evidence that they’ve accepted your proposal and will continue to work with you

https://www.gov.uk/guidance/venture-capital-schemes-apply-for-advance-assurance

How to Incorporate a UK company AND file for corporation tax and employee taxes (PAYE) all in one go

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Here’s a neat little tip for the formation of a UK company whilst filing with HMRC for company corporation tax and Pay as You Earn (PAYE) for you and your (future) employees all in one go.

This all-in-one registration service is offered by the UK Government online portal. All for the grand old price of just £12 at the time of recording. And yes, your company can be up and running within 24 hours. That’s tough to beat!

This is a service offered Gov.uk and it’s a service that not a lot of people seem to know about – especially judging by the low uptake per this press release dated 4 Jan 2019.

This quick and easy approach might not suit everyone. If you are unsure or especially if you have a complex case such as seeking funding e.g. via the Seed Enterprise Investment Scheme (SEIS) or the Enterprise Investment Scheme (EIS), then you may wish to seek advice from a qualified accountant or lawyer.

You can access the Streamlined Company Registration Service via this link: https://www.gov.uk/limited-company-fo…

Essential Technology Work Tools (Nov 2018)

Here’s our preferred current core ‘technology stack’ at work:

Trello

Trello is our core project management tool.

It has become our central dashboard to running our business. We are power-users at our Firm so we track everything into and via Trello.

All tasks are set up as cards and passed through the Kanban-style workflow process. Boards are linked to other boards so that everything can be seen at the touch of a button.

We know internally where all work is up to, what’s outstanding and what’s been done – all clear from one central dashboard.

Slack

Slack is the ’email-killer’.  It is a great way to communicate both internally and externally with clients (in shared channels).

So much more intuitive and user-friendly than email.

Gmail

When you have to use email, it’s still the best out there.

We just use the normal Gmail client user interface. We’ve trialled different ‘front-ends’ but keep coming back to Gmail primarily due to the add-ons and extensions that can be built in (e.g. into Trello, Slack, Loom etc).

Zoom

The best way of communicating with clients for calls. It can be used both for video and teleconference calls. So much more reliable than Skype. Nice integrations with Google Calendar to set up Zoom meetings directly via calendar invitations too.

There’s a decent free plan.

Loom / Soapbox

Good for quick video screen recordings or short presentations. Both are free in their basic form.

Soapbox is provided via Wistia and is marginally better, but the downside is that you can’t download videos unless you upgrade to their fairly expensive annual subscription.

Cloudapp

Great for quick ‘on-the-fly’ screen-grabs and short GIF demos or how-to explainers. Works well with a Chrome extension and lightening fast.

Zapier

A simply awesome ‘bridge’ to make your favourite apps or online tools (like those above), talk to one another.

Really intuitive, with no coding skills required. Automation at your fingertips. Mind blown…

Which technology tools couldn’t you live without in your business?

Are You Asking the Right Questions?

“The Quality of Your Life is Determined by the Quality of the Questions that You Ask Yourself”

If this quote is true, it begs the question whether we have been digging deep and asking ourselves those powerful questions that might help shape our lives…?

Here are a few to get you thinking:

  1. “Who” not “How”? (don’t try to do it all – find those that already have the skills and hire them)
  2. Do you want to work for your business or do you want your business to work for you?
  3. What are your unique skills? What could you do all day and feel in the flow?
  4. If money was no object, what would you be doing right now?
  5. What is stopping you doing that thing that you answered for Q.4. (hint: it’s probably not solely down to ‘money’)

What are the most powerful questions that you have heard or live by…?