EIS

It is the intention, where possible, that the investments put forward by Granary will qualify for tax relief under the Enterprise Investment Scheme (“EIS”), subject to your own personal tax position.  The following is a summary of the main features of the scheme and a more detailed guide is attached but you should take advice from your own adviser.

Investment Company criteria

• Unquoted/Independent/Trading
• Gross Assets < £15m (£16m post investment)
• < 250 employees
• Raising no more than £5m in one year and must be utilised within two years
• Standard exclusions (Finance/Property etc)
• UK resident company
• Ordinary share capital
• All investments pre-cleared by HMRC (Granary will do this)
  

Investor criteria & benefits

• Holdings up to 30% qualify
• Individual maximum investment £1m pa
• Income tax relief on investment
• CGT exemption (hold for 3 years and Company qualifies during that period)
• Partial loss relief against income
• IHT relief (hold for 2 years)
• Can't be connected to the business (eg Existing Shareholder)
• Business Angel Relief (Can be a paid Director)

Funding for food businesses from food people