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I’ve always counseled my author clients to create revenue streams beyond their books.
Print books, in particular, suck up money like a vacuum cleaner, with most of it spent on editing, printing, cover and interior design, marketing and publicity.
Investors need the compliance certificate and reference number to be able to claim tax relief.
You must follow the scheme rules for at least 3 years after the investment is made - otherwise tax relief will be withdrawn from your investors.
You can only submit your compliance statement when you’ve carried out your qualifying business activity for 4 months.
You must submit it within 2 years of this date, or within 2 years of the end of the tax year in which the shares were issued (whichever is later).
How, then, can authors create more revenue streams associated with their books or areas of expertise without incurring a lot of additional expense?
Here are nine of my favorite ways to make money other than writing books.
When you issue the shares there cannot be an arrangement: Email HMRC to ask for this form in Welsh (Cymraeg).If you’re part of a group, the majority of the group’s activities must be qualifying trades.Your company cannot raise more than £5 million in total in any 12-month period from: Your company cannot raise more than £12 million from these sources in your company’s lifetime., you can raise up to £5 million each year, and a maximum of £12 million in your company’s lifetime.This also includes amounts received from other venture capital schemes.