We applied to HMRC for Advance Assurance that investment in Penicuik Community Alliance will be eligible for Enterprise Investment Scheme Tax Relief.
That Advance Assurance has been granted, indicating that in due course investors will be able to claim £30% of the value of their investment. You cannot claim this EIS tax relief until Penicuik Community Alliance Ltd is permitted to send you a form EIS3.
We understand that we cannot seek HMRC permission to supply investors with form EIS3 until we have been trading in the EIS eligible terms for at least four months. We are exploring clarification of this point so that we can seek to authenticate our EIS compliance as soon as possible.
Anyone investing on the basis of the tax break should check with their own financial advisor as to their eligibility and the means by which they will claim it.