9 October 2015
An interest payment of 7% per annum was declared at the last AGM for the fourth year in succession. Members should have received by now an email confirming the amount of interest they will receive for their shareholdings up until 31 March 2015. There will have been an email that pertains to each one of their shareholdings. So for example if you hold three share certificates you will have received three emails. If for any reason you haven’t received the emails please contact Peter Andrews as soon as is convenient. The actual payments will be made, by bank transfer, over the next few days. Please note investors in the Wilmington Solar Array will be receiving interest pro rata, dated from the date on their share certificates.
Enterprise Investment Scheme ( EIS) 3 certificates
The blank EIS 3 certificates have now been received and will be filled in (by hand unfortunately) and sent out to you as soon as possible. For those of you who don’t know how to claim your tax rebate our financial director David Bunker has written these instructions.
How to Claim EIS Relief
HMRC have now authorised the tax submissions made by BWCE so now we can distribute to all qualifying investors a Form EIS 3 which sets out the amount invested and states that the investment is eligible for tax relief.
For Investors who Normally Complete a Tax Return Form
You need to claim the relief on your Tax Return form by completing the Additional Information Section. In Box No 2 on Page 2 you need to enter the total value of the investment upon which you are claiming relief. In the large box on Page 4 of the Additional Information Section you need to provide details of the name of the company invested in , the amount invested, the date of issue of the shares and the name and reference number of the HMRC office issuing the tax certificate. All this information can be found on the EIS certificate we will issue.
You do not need to complete pages 3 and 4 of the EIS certificate. You do not need to send the EIS Certificate to HMRC but you do need to retain it in a safe place. HMRC may request to see the certificate as evidence in support of your claim.
The tax relief will normally be allowed in the year in which the shares were issued to you. If you wish to claim relief against the previous tax year you can either amend the Tax Return previously submitted for the earlier year, or fill out Page 3and 4 as detailed below and send it to your HMRC office.
For Investors who do not Normally Complete a Tax Return Form
If you are employed under PAYE or retired and do not normally complete a Tax Return form, the procedure for claiming relief against tax deducted from you is slightly different. You need to complete the blank sections on Pages 3 and 4 of the EIS Certificate. The details you need about the date of issue and the HMRC office reference number can be found on Page 1 of the certificate.
Detach Pages 3 and 4 of the EIS certificate and send it to the HMRC office that deals with your tax deductions. If you are employed or have a pension from a former employer you will be able to find details of the HMRC office dealing with your affairs from your employer. If you cannot find this information you will need to telephone HMRC on 0300 2003300.
The tax relief will normally be allowed the year in which the shares were issued to you. There is a space on Page 3 of the form to specify if you wish to claim the relief against the preceding tax year.