Tax Relief on Shares
Tax Relief on Shares – Advance Assurance received !!.
Ulgham Community Benefit Society Limited(UCBS) have now received a positive response to their application to HMRC for “Advance Assurance” that our shares should qualify for Tax Relief. This response indicates that investors are likely to receive SEIS or EIS Tax Relief on shares purchased in UCBS Ltd, subject to investors personal circumstances. SEIS at 50% relief for the first £250K raised, the EIS at 30% relief for any funds raised over £250K. This is allocated on a first come first served basis, so worth investing sooner to target the 50% SEIS Tax Relief.
More information can be found here on the SEIS/EIS schemes -Tax relief for investors using venture capital schemes - GOV.UK (www.gov.uk)
CBS Update
Good news for us is that the Government published its English Devolution White Paper yesterday (16th Dec 24). This white paper includes the Labour Manifesto promise to change the law in England that currently supports the “Community Right to Bid” when an Asset of Community Value become available for sale, to “Community Right to Buy”. See CBS News for details