The co-op has received approval for its application for EIS tax relief, which it submitted earlier this year to HMRC. This scheme entitles eligible members, who have £500 of shares or more in Leominster Community Solar to claim back (through their tax bill) 30% of the value of the shares.
EIS is a tax mechanism to encourage investment in new enterprises and at the previous budget the proportion which could be reclaimed was increased from 20% to 30%. However, it was also removed for renewable energy schemes in receipt of FiTs, with the exception of community projects like ours.
Members who have requested a form, have been sent one. Any that still require one, should get in touch with firstname.lastname@example.org