As a village of 1500 properties this works out to be an investment of only £34 per property to reach our goal. This money pays for the fibre infrastructure and chambers that make up the main trunk of the network that will circle the village.
However anyone who invests £1,500 will be entitled to a FREE connection worth £150. The EIS scheme runs under the following terms:
EIS Tax Relief
The shares issue is designed to be compatible with HMRC’s Enterprise Initiative Scheme which gives a 30% tax relief against the value of the shares purchased. We have submitted full details of the share scheme to HMRC and have received a pre-approval certificate confirming eligibility for EIS relief. To qualify for EIS relief the investor have paid sufficient tax to cover the claimed tax relief in either the current or previous tax years. Applicants who wish to take advantage of the EIS scheme can indicate this on the application form and we will then send them the appropriate HMRC form for onward submission to their tax office.
These are investors purchasing at least £1500 worth of shares. They will be able to designate a property within the B4RN coverage area which we will connect without payment of the £150 connection charge. Investors taking advantage of this offer should be aware that they will be considered to be receiving value equivalent to this amount from B4RN against the purchase of shares. HMRC will therefore take this value into account when calculating any tax relief due. You may wish to discuss this with your financial advisor. Obviously investors from outside of our coverage area will not be able to receive this free connection and hence will be able to claim the full tax relief. Investors wishing to buy more than 1500 shares can take advantage of this offer for each complete 1500 purchased. They can either designate these additional properties themselves or leave it to the board to identify good cases which might need support with getting online. Unless told otherwise we will assume the investors home address to be the property designated for free connection.
It really is that simple. Even without a free connection this is an investment with a return that would be hard to find anywhere else. And all that is before you even consider the great service you now have at you finger tips.