Scope of Services: Carta Co-Investment SPV Tax Preparation (UK)

Carta SPV Tax Preparation (UK) is included in SPV formation and administration fee.

Carta SPV Tax Preparation (UK) - Base Services

Carta will work with you to prepare and file:

UK annual Self Assessment: Partnership Tax Returns (SA800)

UK annual Self Assessment Partnership Tax Returns (SA800)

Once client has submitted all required information (set out in Client Responsibilities below), Carta will:

make initial draft tax returns forms available to Client for review by Client. Such drafts will be subject to further review and revision by Carta’s tax team, and updated versions will be made available to Client for review and approval before filing.
give prompt notice to Client of any signing deadlines. In the event a signing deadline is not met by Client, Carta may rely on the Client authorisation given below. In the event Client instructs Carta not to rely on the authorisation and does not meet the signing deadline, Carta shall not be responsible or liable for any late filing fees.

Client Responsibilities

Client must confirm the SPV’s data, including but not limited to the asset(s) held, by 5 May of the year of the applicable UK tax filing deadline.
Client is responsible for the SPV’s investors confirming their respective tax information in the Carta platform by 5 May of the year of the applicable UK tax filing deadline.
Client shall be responsible for approving and, in respect of UK tax filings, signing tax forms prior to filing by Carta.

If the deadlines set forth above are not met or if Client or Client’s investors provide incorrect information:

Carta shall not be responsible for any penalties due to late or incorrect filings.
Carta shall not be responsible for late tax payments.
Carta may file extensions where necessary.

Client authorisation

Unless Client instructs Carta otherwise, where Client has not signed the relevant UK tax forms prior to the communicated deadline date, Client hereby authorises Carta to append the Client’s signature to the relevant UK tax forms to ensure the filing deadlines are met.

Not Supported

While most SPVs are able to be serviced by Carta SPV Tax Preparation (UK), the product will be unable to support SPVs with any of the following non-standard characteristics:

Entities not administered through Carta
Non-UK entities
Non-accrual books
Investments in cryptocurrencies (including crypto tokens or SAFTs), private debt, PE-style investments, real estate or other non-venture asset classes.
Fund structures with master feeder or blocker entities
Any other non-standard characteristics as identified by Carta from time to time

Carta’s SPV Tax Preparation (UK) services exclude any tax preparation required for SPVs classified as Controlled Foreign Corporations (CFCs) under U.S. or other foreign tax laws.

Carta will not provide tax filings or returns to the extent they are required in a jurisdiction outside of the UK, unless any relevant add-on services are set out herein and procured by the Client. Carta will provide investors with the relevant documentation necessary for the preparation of the tax filings and returns in their local jurisdiction.

DISCLOSURE: This communication is on behalf of Vauban Technologies Limited ("Carta"). This communication is for informational purposes only, and contains general information only. Carta is not, by means of this communication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. Before making any decision or taking any action that may affect your business or interests, you should consult a qualified professional advisor. This communication is not intended as a recommendation, offer, or solicitation for the purchase or sale of any security. Carta does not assume any liability for reliance on the information provided herein.

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