Seed capital scheme is a bit of a nonsense to be honest. Just invest your cash as a loan into the company and simply withdraw a monthly stipend as a repayment with no income tax liable. In due course as revenue picks up you can pay yourself some PAYE salary, and top it up with loan repayments.
Question, say you paid €100k over 6 years in PAYE and now you were starting your own business.
Could you not take a loan for €100k from the bank, invest it into the company, claim the PAYE refund and clear the loan.
You'd end up with €100k sitting in the company account that you didn't have before.
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