EIS eligibility

Am I eligible for EIS

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Hello, I am a sole trader and I am doing some consulting for a company who are about to do an EIS fund raise. 
Am I eligable for EIS given I am not an employe? However my company does invoice them for my work. 
Thank you

Replies (6)

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Psycho
By Wilson Philips
05th Jul 2020 23:15

“I am a sole trader” and “my company ...”?

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By Poppy1984
06th Jul 2020 07:30

Thank you. I invoice the company for my services so I’m not an employee, so the question is what do they define as “partner” ?

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Replying to Poppy1984:
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By Wanderer
06th Jul 2020 08:40

Quote:
EIS eligibility
Am I eligible for EIS

Hello, I am a sole trader and I am doing some consulting for a company who are about to do an EIS fund raise. 
Am I eligable for EIS given I am not an employe? However my company does invoice them for my work. 
Thank you

The point Wilson raises is that in one part of your question you state that you are a sole trader but in another part of your question you say that you have a company.

You have now further confused the issue by introducing the possibility of partnerships!!! :-

Quote:

Thank you. I invoice the company for my services so I’m not an employee, so the question is what do they define as “partner” ?

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By Tim Vane
06th Jul 2020 08:40

Whoosh. Right over the head.

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Replying to Tim Vane:
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By Poppy1984
06th Jul 2020 08:44

Ok, sorry, I am invoicing the company for my services as a sole trader - so reading the rules, I am unclear if that constitutes being an employee or if we are are in partnership at all.
Thank you

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Replying to Poppy1984:
Psycho
By Wilson Philips
06th Jul 2020 10:33

As others have suggested, surely your accountant - who should be far more familiar with your exact circumstances than anyone here - should be able to advise you.

From what you have said, you are not connected with the company, and provided that you charge the company market rate for your services this should not present a problem. But, for the avoidance of doubt, you would be foolish to go down the EIS investment route without seeking professional advice tailored to your circumstances and with that I disclaim any responsibility should my 'advice' prove to be incorrect.

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