ERSM100010 - University Spin-outs

Introduction to guidance for participants in research institution spin-out companies

This guidance is based on changes that came into effect from 2 December 2004 in the Finance Act 2005, which received Royal Assent on 7 April 2005. Much of it was previously published as a stand-alone document “Guidance for Participants in Research Institution Spinout Companies”. This has now been withdrawn. References to the relevant legislation are made at various places in this guidance. If you are in doubt you should consult the wording of the statute.

References to legislation throughout this guidance, unless otherwise indicated, are to the Income Tax (Earnings and Pensions) Act 2003 (ITEPA) – they are shown in the format as for example ITEPA03/S451, which stands for section 451 of ITEPA 2003 as amended by FinanceAct 2005.