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
Congratulations to the Samson Inn at Gilsland on opening after many years closed thanks to their Community Benefit Society. See - it is still possible !!!
The UCBS are working hard to find a solution to opening the Forge.