EIS – Personal training gym startup
Business Tax
The client was a personal trainer who wanted to raise money to set up a gym in Central London by issuing shares qualifying for relief under the Enterprise Investment Scheme (EIS). The shares were to be issued by New Co. which would own and run the gym. The business model was slightly unusual in that the members of the new gym were to be personal trainers, who would pay a monthly fee to New Co. in order to use the gym facilities with their clients who did not become members.