We were very pleased to receive confirmation from HMRC that our share offer qualifies in principle for EIS and Seed EIS tax relief. Just in time for the launch events this Friday and Saturday in Dingwall.
Tax relief is not just for the wealthy – it is likely to apply to many share applicants who are taxpayers. In short, your investment significantly reduces your income tax bill. Here’s how it works:
Mary is a qualifying taxpayer who invests £1,000 in EIS qualifying shares. The EIS relief available is £300 (£1,000 at 30%). If her income tax liability for the year (before EIS relief) was, for example, £4,000, she could reduce it to £3,700 as a result of her investment. If she invested in SEIS qualifying shares the relief would be £500 and her income tax liability would be reduced to £3,500.
We’re offering shares under both schemes. The share offer document will be available at the launch events and will be published online at the same time – 7.30 pm on Friday 20th September
For full details of EIS and Seed EIS schemes see www.hmrc.gov.uk/eis/ and /www.hmrc.gov.uk/seedeis/