Community Power Cornwall has sought to enable shareholders to gain tax relief under the Enterprise Investment Scheme (EIS) and prior to our 2011 share offer secured advance assurances from H M Revenue and Customs that a 3 year investment in shares would comply with the EIS.
Shares issued in 2011, 2012, 2014 and 2015 have attracted EIS relief. However, we do not guarantee EIS eligibility of each investor. Qualifying investments attract tax incentives including a 30% income tax reducer in the first year, equivalent to 10% per year over 3 years. We recommend investors seek independent financial advice.
For further information on EIS see www.hmrc.gov.uk/eis
NOTE: The government has decided EIS will not be available on investment in community energy projects made on or after Monday 30th November 2015. HMRC guidance says fully paid up shares must be issued before Monday the 30th of November 2015.