Following the success of our 2019 Community Share Offer, through which we raised over £250,000 to lend to West Midlands businesses, we are delighted to announce that our Community Share Offer for 2020 is now open. Once again we are working through the Ethex social investment platform.
Individuals and companies can invest between £500 and £100,000 and their investment will be eligible for Community Investment Tax Relief (CITR). The offer is open until 24th March 2020.
We’re aiming to raise an additional £500,000, which will be used to support the West Midlands economy through loans to viable business and social enterprises unable to access the finance they need from the banks. Our aim is to help such businesses survive challenging trading conditions, thrive and grow, which means they are also able to protect and create jobs.
In addition to knowing their money is being put to good use, investors will be eligible for a financial return in the form of tax relief.
CITR offers tax relief at 5% per annum of the sum invested over five years as a deduction off an investor’s UK income tax or corporation tax liability. After five years shares may either be withdrawn or reinvested in ART. You can find out more about how CITR works at www.gov.uk/government/publications/community-investment-tax-relief-citr
Read the share offer document: ART Community Share Offer Document 2020July 3, 2019 2:02 pm