Seed Enterprise Investment Scheme and Burayr

The Seed Enterprise Investment Scheme (SEIS) was launched by the United Kingdom government on 6 April 2012 in order to encourage investors to finance startups by providing tax breaks for backing projects they may otherwise view as too risky.

Contents 1 Tax breaks 2 Key rules 2.1 The company cannot 2.2 The investor cannot 3 Example SEIS scenarios 4 References

Tax breaks

The SEIS offers both income tax and capital gains tax reliefs to qualifying investors who subscribe for shares in qualifying companies. Investors can obtain 50% relief for income tax on the cost of shares, on a maximum annual investment of £100,000. No Capital Gains Tax is paid on profits earned on shares held for more than three years.

Capital gains which are realised before three years has expired, but which are reinvested into qualifying SEIS shares, will also be exempt from Capital gains tax. Again, the annual limit is £100,000. Should the company go bankrupt, investors may claim loss relief on their investment which is equal to half of their total investment multiplied by their tax rate. Key rules

There are a number of complex rules about whether investors and companies can qualify and some of the main rules are listed below. In addition, for shares to qualify, they must be issued wholly for cash and be held by the investor for more than 3 years. They cannot hold any preferential rights. The company cannot raise more than £150,000 in total have more than 25 employees in total have assets worth more than £200,000 before the shares are issued have been incorporated more than 2 years prior to issuing the shares The investor cannot be an employee prior to the share issue, unless also a director hold more than 30% of shares Example SEIS scenarios

(The following examples are sourced from SyndicateRoom and assume a tax rate of 45% and capital gains at 28%.)

Example 1: The company fails If someone invests £1000 in an SEIS eligible start-up, this is what they can expect to receive in Tax relief and Total Returns: £500 tax liability reduction which they can claim for the year they invest or the year prior to investing's return £225 returned as loss relief because the company has failed. Given an initial outlay of £1000 the actual loss on this investment is roughly £275

Example 2: The company breaks even If someone invests £1000 in an SEIS eligible start-up, this is what they can expect to receive in Tax relief and Total Returns: £500 tax liability reduction which they can claim for the year they invest or the year prior to investing's return Given their initial outlay of £1000 and taking into account that they have received £500 back in tax relief, if they sell their shares for what they have paid for them (£1000) they will have turned a profit of £500. This £500 is tax free if the shares in the company have been held for more than 3 years.

Example 3: The company returns a profit If a person invests £1000 in an SEIS eligible start-up, this is what they can expect to receive in Tax relief and Total Returns if the company sells out for double the value when they invested: £500 tax liability reduction which they can claim for the year they invest or the year prior to investing's return Given the initial outlay of £1000 is now worth £2000, and factoring in the £500 received back on it from the government, the returns are of £1500 and are free from capital gains tax if the shares have been held on to for more than 3 years.

Further, and for all examples, investors can claim exemption on up to half of capital gains owed in a tax year (up to the SEIS limit of £100,000) given that this amount is invested into SEIS eligible companies.

Burayr and Seed Enterprise Investment Scheme

Burayr (Arabic: برير‎) was a Palestinian Arab village in the Gaza Subdistrict, 18 kilometers (11 mi) northeast of Gaza City. Its population in 1945 was 2,740 and it was depopulated in the 1948 Arab–Israeli War. It had an average elevation of 100 meters (330 ft).

Contents 1 History 1.1 Ottoman period 1.2 British Mandate of Palestine 1.3 1948 war and aftermath 2 Archaeology 3 See also 4 References 5 Bibliography 6 External links

History

In the 1st century, Burayr was a Jewish town by the name of Bror Hayil and the site of a yeshiva headed by rabbi Johanan ben Zakai. Ceramics from the Byzantine period have been found.

When it came under the control of the Roman Empire along with all of Palestine, it was renamed Buriron. The village's current name dates from the Arab conquest of Palestine in the 7th century.

During Mamluk rule, it was positioned on a main highway leading from Gaza to Beit Jibrin, branching off the Via Maris at Beit Hanoun. Burayr had its own independent source for water, making it a desired rest place for travelers. In the ruins of the village was discovered Fatimid inscriptions dating from the 10th centuries. Ottoman period

Burayr was incorporated into the Ottoman Empire in 1517 with all of Palestine and in 1596, it was under the administration of the Nahiya of Gaza, part of the Sanjak of Gaza. The village paid taxes on wheat, barley, fruits, beehives, and goats.

In 1838, Edward Robinson found that Burayr was "a flourishing village forming a sort of central point in the plain.. a large public well, at which camels were drawing water by means of a sakia, or water wheel with jars..." In 1863, Burayr was described as a "large and prosperous village of 1,000" and all of its houses were made of mud, except for that of the village sheikh whose home was built of stone, and "round the well, which is broad and deep, ten ancient shafts in greyish white marble are built up in masonry, serving to make a trough."

An official Ottoman village list from about 1870 showed that Bureir had 167 houses and a population of 579, counting only the men. In 1883, the SWP described the village as large, with a water wheel to the east, a pool to the north and a garden to the south.

Burayr was strategically important in World War I and on November 9, 1917, was one of the first places captured by the Allied Forces from the Ottoman Empire, consolidating British hold on positions controlling the approaches to Jaffa and Jerusalem. British Mandate of Palestine

During the British Mandate period, Burayr expanded westward, a mosque was built in the center of the village along with a clinic and grain mill. There were two primary schools—one for girls and one for boys—founded in 1920. Water was supplied by three wells inside the village and toward the end of the Mandate, villagers had drilled artesian wells. The local economy boosted in the 1940s when the Iraqi Petroleum Company discovered oil in the vicinity of Burayr and drilled an oil well. The activities of the marketplace were supplemented by a weekly Wednesday market that attracted other villagers and Bedouin. Agriculture and animal husbandry employed most of the residents and the main crops were citrus, grapes, and figs.

In the 1922 census of Palestine, conducted by the British Mandate authorities, Bureir had a population of 1,591, all Muslims, increasing in the 1931 census to 1894, still all Muslim, in 414 houses.

In 1945 Bureir had a population of 2,740, all Arabs, with 44,220 dunams of land, according to an official land and population survey. Of this, 409 dunams were plantations and irrigable land, 43,319 used for cereals, while 130 dunams were built-up land. 1948 war and aftermath

On January 29, 1948, Israeli forces entered the village in five armored vehicles, but were repulsed without casualties. On February 14, an Israeli convoy exchanged fire with the local militia and withdrew. The villagers built a barricade at the entrance of Burayr which was dismantled by British troops the next day.

According to the Palestinian historian Walid Khalidi, Jewish World War II veterans established kibbutz Bror Hayil on a hilltop about a mile from Burayr on April 20, 1948. He says the New York Times reported that "when the Arabs of Burayr awoke, they found the Jews setting up pre-fabricated houses and building a defensive wall and watchtower." The villagers opened fire on them, but the work was completed by noon. Benny Morris says the founding date was May 18, and Israeli sources say the founders were mostly Jewish immigrants from Egypt.

In the course of Operation Barak, which commenced in early May, the Palmach's Negev Brigade and Givati Brigade captured Burayr, which was referred to as "the village of the killers." Dozens of army-age villagers were apparently executed and a teenage girl was apparently raped and killed. All of the inhabitants fled to Gaza.

According to Khalidi, the village still contains remnants of houses, streets and a cement wall. Israel established Telamim and Heletz in 1950, Sde David in 1955, and Zohar in 1956. Archaeology

On the basis of Philistine pottery from the 10th or 9th centuries BCE found in excavations of the tell, archaeologist Jeffrey Blakely of University of Wisconsin-Madison believes that Burayr may be the site of a Philistine village contemporary with the nearby Judaean hill forts. See also List of Arab towns and villages depopulated during the 1948 Palestinian exodus
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