Completion took place on Friday 29th April!
If you would like to invest or learn more about our investment plans please contact Alan Hutton at firstname.lastname@example.org or Michael West on 01373 832 434.
The minimum number of shares that may be purchased is 25 at a total cost of £250. There is a restriction that no shareholder may control more than 20% of the shares in the company. Provided shareholders qualify for the EIS (see below) they will be able to claim 30% of their investment in tax relief. It is anticipated that initial profits would be used to make any necessary improvements to the buildings but dividends would be paid to shareholders as determined by future results and shareholder vote.
For clarification the following are a summary of the official regulations for the EIS:
The Enterprise Investment Scheme provides investors with tax reliefs against UK income tax and/or capital gains tax. Provided shares are held for a minimum of 3 years, investors can qualify for 30% income tax relief on their investment.
Share proceeds will also be free of Capital Gains Tax and Inheritance Tax which are of significant benefit to investors.
It is important that anyone investing reads the information published by HMRC and/ or takes professional advice.
The EIS has a number of rules including that no investor can derive an income directly from the business, so if employees of the Company choose to invest they may not be eligible for the tax breaks.