The new shareoffer to develop a community run cafe at Canolfan Hermon near Crymych has got off to a fantastic start with over £8,000 received in shares within one week. The share offer was launched on Friday the 4th of April and local people were given a full explanation of how the shareoffer is registered with the HMRC Seedcorn Enterprise investment Scheme. This scheme known as SEIS allows UK tax payers to revive 50% of their share investment back as a tax relief scheme. The organiser of the scheme in Hermon - Cris Tomos explained further " The trustees of Canolfan Hermon wished to develop the community cafe idea to offer new jobs and to have regular catering and hospitality training courses. There is a need to raise a minimum of £20,000 to develop the ideas and kit out the cafe area. The SEIS share investment scheme is a great way for people to invest in their community and to also have 50% tax relief" Cris added " In rural West Wales we need to see money retained and within our local economy to boost jobs and training people in new skills"
The shareoffer gives a great return to investors who will be able to have their share value back after a 5 year period. If someone invests £1,000 the would receive £500 back as tax relief and request their £1000 shares back in 5 years time which is an excellent return on investment. Full details of the SEIS scheme can be viewed on the HMRC website or people can talk to their accountant or financial adviser about investing is such a local scheme. The information about how to invest in the community cafe can be viewed on www.canolfanhermon.org.uk.