SITR for Bovey Paradiso investors
By: Tony Pearce
Added: 22 November 2017
The Bovey Paradiso team is delighted to announce that the HMRC has confirmed that investors in the Bovey Paradiso project will benefit from Social Investment Tax Relief (SITR).
This means that shareholders will have their tax liability reduced by 30% of the value of their shares (eg a £1,000 investment reduces your tax bill by £300). The shares are free of Inheritance Tax after 2 years. It is expected that shareholders will receive 3% interest per year (from when the project starts operating), which with tax relief means an effective rate of return of 4.28% - much better than the building society!
So far more than £250,000 has been invested by people in our community – you can join them here, and download all the details here.
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