At Friday's Board meeting (we worried throughout about snow but managed to get home before it got serious) a new Shares Offer was approved.
When launched this summer (there a fair amount of preparation) it will offer honed travel benefits but more importantly a purchase will qualify for 30% tax relief under the Government Enterprise Investment Scheme (EIS) - you invest £1000 and get £300 back from HMRC as a tax refund.
The new issue which will replace the existing one that has run since the Plc was formed, will be titled "Bridges to Broadway" and will be limited to a total shares sale value of £500,000. This is broadly the amount needed to put the bridges between Laverton and Broadway in good order. Any money so raised under EIS must be spent within two years of receipt.
With the embankments hopefully behind us, this represents the first major activity to raise funds to get to Broadway and we hope will be of interest to all.
Watch for the launch announcement!
Hallo Gentlemen,
ReplyDeleteI am a non-taxpayer. Do I (you) still qualify for the rebate?
I'm afraid not. If you don't pay it, you cant get some back
DeleteI am currently purchasing GWSR shares via a monthly direct debit and I would like to continue purchasing shares in this way. Will I need to enter into a new arrangement, or will the existing one be carried forward for the new share offer.
ReplyDeleteAs a tax payer, I'm also interested in the EIS tax refund - will this also be available (presumably supported by an annual statement of shares purchased) to those buying shares monthly?
Thanks
Mick Rogers
Mick
ReplyDeleteYes it is possible (and we want you) to continue to purchase by instalments and these will qualify for tax relief as we convert into shares. We will be writing to you
The HMRC website says that employees cannot quality for the tax relief (see http://www.hmrc.gov.uk/eis/part1/1-3.htm). Can you confirm that we volunteers do not count as "employees" for EIS purpose, please?
ReplyDeleteConfirmed
ReplyDelete